BWI: IDFC Consolidated Net Profit Increased by 19% in H1 FY 2011 over H1 FY 2010

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Monday, November 08, 2010 07:40 PM IST (02:10 PM GMT)
Editors: General: Economy; Business: Accounting & management consultancy services, Banking & financial services, Financial Analyst, Stock exchanges
--------------------------------------------------
IDFC Consolidated Net Profit Increased by 19% in H1 FY 2011 over H1 FY 2010


Mumbai, Maharashtra, India, Monday, November 08, 2010 -- (Business Wire India) -- Highlights of H1 FY 2011

-- Profit After Tax of Rs 674 crore for H1 FY 2011 compared to Rs 564 crore in H1 FY 2010
-- EPS (diluted) increased from Rs 4.32 per share to Rs 4.81 per share : an increase of 11%
-- IDFC is notified as Infrastructure Finance Company by the Reserve Bank of India
-- IDFC raised Rs 2,654 crore through the QIP route by allotment of equity shares to QIBs and Rs 840 crore of capital through a preferential issue of CCCPS.
-- Balance sheet size as on September 30, 2010 - Rs 46,423 crore : an increase of 45%
-- Net NPAs at 0.12% of outstanding loans; No new NPA during H1 FY 2011
-- Net Interest income (NII) of Rs 711 crore : an increase of 37%
-- Non Interest Income of Rs 533 crore : an increase of 20%
-- Assets under management - USD 6.4 billion

At its 80th Board Meeting held on November 08, 2010, the Board of Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the period April 01, 2010 to September 30, 2010.

INCOME

-- Net Interest Income (NII) increased by 37% from Rs521 crore in H1 FY 2010 to Rs 711 crore in H1 FY 2011.
- Net Interest Income (NII) from infrastructure loans increased by 41% from Rs 471 crore in H1 FY 2010 to Rs 663 crore in H1 FY 2011.
- Net Interest Income from treasury operations decreased by 4% from Rs50 crore in H1 FY 2010 to Rs 48 crore in H1 FY 2011.

-- Non Interest Income increased by 20% from Rs 443 crore in H1 FY 2010 to Rs 533 crore in H1 FY 2011.
- Fees from IDFC's asset management business decreased by 1% from Rs141 crore in H1 FY 2010 to Rs 140 crore in H1 FY 2011.
- Income from Investment banking and broking activity increased by 12% from Rs 98 crore in H1 FY 2010 to Rs 110 crore in H1 FY 2011.
- Income from principal investments increased by 2% from Rs 129 crore in H1 FY 2010 to Rs 132 crore in H1 FY 2011.
- Loan related and other fees increased by 102% from Rs 75 crore to Rs 151 crore.

PROFITS

-- Profit before tax (PBT) increased by 21% from Rs 760 crore in H1 FY 2010 to Rs 919 crore in H1 FY 2011.
-- EPS (diluted) increased by 11% from Rs 4.32 per share to Rs 4.81 per share.
-- After accounting for tax and share of profit in associate company, the profit after tax (PAT) increased by 19% from Rs 564 crore in H1 FY 2010 to Rs 674 crore in H1 FY 2011.

BALANCE SHEET

-- The balance sheet size grew by 45% from Rs 31,982 crore as at September 30, 2009 to Rs 46,423 crore as at September 30, 2010.
-- Net Loan book increased by 58% from Rs 21,785 crore to Rs 34,397 crore.
-- Exposure was Rs 62,165 crore as on September 30, 2010.



CONTACT DETAILS
K.V. Venkatraman, Infrastructure Development Finance Company Limited, + 91 22 4222 2020 , venkatraman.kv@idfc.com

KEYWORDS
ECONOMY, CONSULTANCY SERVICES, BANKING, Financial Analyst, STOCK EXCHANGES

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com