BWI: IDFC Consolidated Net Profit Increased by 21% in FY 2011 over FY 2010

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Saturday, April 30, 2011 10:21 AM IST (04:51 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Financial Analyst, Stock exchanges
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IDFC Consolidated Net Profit Increased by 21% in FY 2011 over FY 2010


Mumbai, Maharashtra, India, Saturday, April 30, 2011 -- (Business Wire India) -- Highlights of FY 2011

--- Profit After Tax of ` 1,282 crore for FY 2011 compared to ` 1,062 crore in FY 2010
--- EPS (diluted) increased from ` 8.12 per share to ` 8.71 per share : an increase of 7%
--- Dividend increased from ` 1.50 per share to ` 2.00 per share : an increase of 33%
--- IDFC is notified as Infrastructure Finance Company by the Reserve Bank of India
--- IDFC raised ` 2,654 crore through the QIP route by allotment of equity shares to QIBs and ` 840 crore of capital through a preferential issue of CCCPS.
--- Balance sheet size as on March 31, 2011 - ` 47,554 crore : an increase of 42%
--- Net NPAs at 0.10% of outstanding loans; No new NPA in FY 2011
--- Net Interest income (NII) of `1,645 crore : an increase of 47%
--- Non Interest Income of ` 875 crore
--- Assets under management - USD 7.5 billion


At its 83rd Board Meeting held on April 29, 2011, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to March 31, 2011 and recommended Dividend at the rate of ` 2.00 per equity share for FY 2011.

INCOME

-- Net Interest Income (NII) increased by 47% from ` 1,117 crore in FY 2010 to ` 1,645 crore in FY 2011.

- Net Interest Income (NII) from infrastructure loans increased by 47% from ` 1,021 crore in FY 2010 to ` 1,501 crore in FY 2011.
- Net Interest Income from treasury operations increased by 49% from ` 96 crore in FY 2010 to ` 144 crore in FY 2011.


-- Non Interest Income decreased by 8% from ` 950 crore in FY 2010 to ` 875 crore in FY 2011.

- Fees from IDFC's asset management business decreased by 20% from ` 362 crore in FY 2010 to ` 291 crore in FY 2011.
- Income from Investment banking and broking activity increased by 9% from ` 183 crore in FY 2010 to ` 199 crore in FY 2011.
- Income from principal investments decreased by 27% from ` 261 crore in FY 2010 to ` 191 crore in FY 2011.
- Loan related and other fees increased by 35% from ` 144 crore to ` 194 crore

PROFITS

-- Profit before tax (PBT) increased by 25% from ` 1,429 crore in FY 2010 to ` 1,779 crore in FY 2011.
-- EPS (diluted) increased by 7% from ` 8.12 per share to ` 8.71 per share.
-- After accounting for tax and share of profit in associate company, the profit after tax (PAT) increased by 21% from ` 1,062 crore in FY 2010 to ` 1,282 crore in FY 2011. Profit after tax (PAT) from the core business (excluding income from principal investments) increased by over 40%.

BALANCE SHEET

-- The balance sheet size grew by 42% from ` 33,562 crore as at March 31, 2010 to ` 47,554 crore as at March 31, 2011.
-- Net Loan book increased by 50% from ` 25,031 crore to ` 37,652 crore.
-- Exposure was ` 58,273 crore as on March 31, 2011.




CONTACT DETAILS
Mr. Arun Raste, Infrastructure Development Finance Company Limited, + 91 22 4222 2019, arun.raste@idfc.com
Mr. K.V. Venkatraman, Infrastructure Development Finance Company Limited, + 91 22 4222 2019, venkatraman.kv@idfc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, Financial Analyst, STOCK EXCHANGES

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