The Hindu Business Line : Indiabulls net profit more than doubles

Mumbai, July 24 Net profit of financial services firm Indiabulls Financial Services Ltd more than doubled to Rs 166.4 crore for the first quarter ended June 30, 2007, compared with Rs 76.6 crore in the corresponding quarter of the previous year.

Total income also registered a 100 per cent growth at Rs 442.8 crore, as against Rs 220.7 crore.

Financing income, which contributed 69.7 per cent to total revenues, rose 173 per cent to Rs 308.7 crore from Rs 112.9 crore.

Income from brokerage and capital market related activities stood at Rs 102.4 crore (Rs 98.6 crore), registering a growth of 3.8 per cent.

Total outstanding & serviced loans as on June 30, 2007 increased by 284 per cent to Rs 4,139.7 crore from Rs 1,078 crore.

Shares of the company fell 3.71 per cent on the BSE to close at Rs 639.50.

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