IDFC Q3 Net Surges 46% To Rs 269 Crore

IDFC Q3 Net Surges 46% To Rs 269 CroreFor the three month period ended December 2009, Infrastructure Development Finance Company (IDFC) registered a 46% growth in its consolidated net profit, which stood at Rs 269.90 crore as against Rs 184.62 crore during the same period of the last financial year.

The company total income during the said quarter surged to Rs 997.80 crore as compared to Rs 865.20 crore during the corresponding period of 2008.

On the standalone basis, the company registered a growth of 39.53% in its net profit at Rs 240 crore for the October-December quarter.

The company's standalone total income during the same period zoomed 10.92% to Rs 8,811.68 million.

During the third quarter, IDFC used Securities Premium Account under Section 78 of the Companies Act, 1956, towards discount on zero coupon bonds issued after October 1, 2009.

During the nine months ended Dec 2009, IDFC raised its equity interest to 100 percent (from 80 percent) in IDFC - SSKI Securities.

At the same period, IDFC Pension Fund Management Co. was incorporated as a wholly owned division of IDFC.

At 12:53 pm, the shares of IDFC declined 2.3% to trade at Rs 146.10 on BSE. The share price has seen a 52-week high of Rs 179.70 and a low of Rs 44.15 on BSE.

Current EPS & P/E ratio stood at 7.34 and 19.90 respectively.