India Infoline Q4 net down 10%

PTI Mumbai | Updated on May 07, 2011

Financial services firm India Infoline Ltd on Saturday reported a dip of 10.38 per cent in consolidated net profit at Rs 46.79 crore for the quarter ended March 31, 2011.

The company had a net profit of Rs 52.21 crore in the same period last year, India Infoline said in a statement.

Income from operations, however, increased to Rs 367.40 crore in the January-March quarter from Rs 309.47 crore in the same period previous year.

For the year ended March 31, the company’s net profit declined by 8.98 per cent to Rs 211.13 crore from Rs 231.98 crore in the year-ago period.

Commenting on the result, IIFL Chairman Mr Nirmal Jain said, “Bottom—line was under pressure due to higher interest cost and fall in broking yield. We, however, remain optimistic about the long term prospects of the industry“.

The Board of Directors of the company declared and paid interim dividend of Rs 3 per share, which is considered as final dividend, IIFL said in a filing to the BSE.

Further, the board has appointed Mr Nirmal Jain, Chairman and Managing Director as the Executive Chairman of the company. Mr R Venkataraman, Executive Director, is appointed as the Managing Director, it said.

Published on May 07, 2011

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