BWI: IDFC Consolidated Net Profit Increased by 32% in 9M FY 2010 Over 9M FY 2009

Press release from Business Wire India
Source: Infrastructure Development Finance Company Limited
Wednesday, January 27, 2010 06:46 PM IST (01:16 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
--------------------------------------------------
IDFC Consolidated Net Profit Increased by 32% in 9M FY 2010 Over 9M FY 2009


Mumbai, Maharashtra, India, Wednesday, January 27, 2010 -- (Business Wire India) -- Highlights of 9M FY 2010

-- Profit After Tax of Rs.834 crore for 9M FY 2010 compared to Rs.634 crore in 9M FY 2009

-- EPS (diluted) increased from Rs. 4.88 per share to Rs. 6.38 per share : an increase of 31%

-- Balance sheet size as on December 31, 2009 - Rs. 31,207 crore : an increase of 4%

-- Net NPAs at 0.19% of outstanding loans; No new NPA during 9M FY 2010

-- Net Interest income (NII) of Rs. 801 crore : an increase of 20%

-- Non Interest Income of Rs. 681 crore : an increase of 50%

-- Assets under management - USD 7.5 bn

At its 75th Board Meeting held on January 26, 2010, the Directors of Infrastructure Development Finance Company Limited (IDFC) approved financial results for the nine months ended December 31, 2009.

INCOME

-- Net Interest Income (NII) increased by 20% from Rs. 669 crore in 9M FY 2009 to Rs. 801 crore in 9M FY 2010.
-- Net Interest Income (NII) from infrastructure loans increased by 30% from Rs. 561 crore in 9M FY 2009 to Rs. 731 crore in 9M FY 2010.
-- Net Interest Income from treasury operations decreased by 36% from Rs. 108 crore in 9M FY 2009 to Rs. 69 crore in 9M FY 2010.
-- Non Interest Income increased by 50% from Rs. 455 crore in 9M FY 2009 to Rs. 681 crore in 9M FY 2010.
-- Fees from IDFC's asset management business increased 1.67 times from Rs. 125 crore in 9M FY 2009 to Rs. 209 crore in 9M FY 2010.
-- Income from Investment banking and broking activity increased by 55% from Rs. 85 crore in 9M FY 2009 to Rs. 132 crore in 9M FY 2010.
-- Income from principal investments increased by 52% from Rs. 154 crore in 9M FY 2009 to Rs. 234 crore in 9M FY 2010.
-- Loan related and other fees increased by 18% from Rs. 90 crore to Rs. 106 crore.

PROFITS

-- Profit before tax (PBT) increased by 30% from Rs. 869 crore in 9M FY 2009 to Rs. 1,128 crore in 9M FY 2010.
-- EPS (diluted) increased by 31% from Rs. 4.88 per share to Rs. 6.38 per share.
-- After accounting for tax and share of profit in associate company, the profit after tax (PAT) increased by 32% from Rs. 634 crore in 9M FY 2009 to Rs. 834 crore in 9M FY 2010.

BALANCE SHEET

-- The balance sheet size grew by 4% from Rs. 30,036 crore as at December 31, 2008 to Rs. 31,207 crore as at December 31, 2009.
-- Net Loan book increased by 12% from Rs. 21,027 crore to Rs. 23,450 crore as on December 31, 2009.
-- Exposure was Rs. 34,757 crore as on December 31, 2009.


CONTACT DETAILS
Mr. Ravi Muthreja, Infrastructure Development Finance Company Limited , + 91 (22) 42222019, ravi.muthreja@idfc.com
Mr. K.V. Venkatraman, Infrastructure Development Finance Company Limited , + 91 (22) 42222019, venkat@idfc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, 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