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Mumbai, Jan. 23 Net profit of India Infoline Ltd has more than doubled by 106 per cent at Rs 14.46 crore for the third quarter ended December 2006 against Rs 7.02 crore for the corresponding quarter in the previous year.

Total income increased 106.4 per cent at Rs 27.04 crore (Rs 13.07 crore).

The rise in net profit follows the expansion of branch network in the previous two quarters, according to Mr Kapil Krishan, Chief Financial Officer, India Infoline Ltd. Around 385 branches have been added in the past three quarters pushing up operating expenses. Earnings per share increased to Rs 3.17 (Rs 1.66).

The company has posted a net profit of Rs 18.07 crore, up 46 per cent on a consolidated basis (Rs 12.36 crore). Total income has grown 112 per cent to Rs 114.5 crore (Rs 54.03 crore).

He said there has been a substantial growth of 163.43 per cent in commission from sale of life insurance policies. "In the third quarter, the life insurance business accounted for 27 per cent of our total revenue," he added.

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