IL&FS Investment Managers, the private equity fund management company listed on the bourses said that it has seen a marginal decline in its net profit for the quarter ending June 30,2010.

Despite the fluctuations it managed to have a net profit of Rs 17.68 crore during the period. This is a bit lower than what it did last year when it posted Rs. 17.70 crore as profit.

Income from operation during the period stood at Rs 43.11 crore which is marginally lower than the same quarter last year when it saw Rs 43.51 crore. The information was given in the filings submitted by the managers of IL&FS submitted to the BSE.

Even though the funds saw a net increase, consolidate revenue and profit of the firm remained flat. This happened because of the quick and heavy fluctuations in the foreign currency.

In a statement to the press, IL&FS Investment Managers Chief Executive Officer Arohana Hingorani said that the first-quarter performance has been inline with expectations of the company and that there is nothing to be worried about.

At present, IL&FS has $2.8 billion as assets with its and has invested in various sectors.