Money & Banking

Indiabulls PAT surges 144% in FY 11

| | Updated on: Apr 22, 2011

Indiabulls Financial Services has clocked a profit after tax of Rs 750.92 crore in FY 11 up 144 per cent over the previous fiscal’s Rs 307.48 crore.

The company’s consolidated total revenues stood at Rs 2,509.96 crore, up 53.5 per cent, compared with Rs 1,635.04 crore in the year-ago period, a press release issued here today stated.

The board of directors of the company has recommended a final dividend of Rs 5 (250 per cent) per share of face value of Rs 2. The proposed total dividend for FY 11 (including interim dividend of Rs 5 already paid) is Rs 10.

While its return on equity grew 17 per cent, its capital adequacy stood at 20.09 per cent as of March 31, 2011, the release said.

During the fourth quarter of FY 11, the company’s total revenues and PAT stood at Rs 772.38 crore and 236.13 crore, respectively.

The company has seen six quarters of continuous reduction in its gross and net NPA levels as low-risk mortgage portfolio increases the asset base, while contributing very low incremental delinquencies.

The gross NPA stood at 1.03 per cent and net NPA at 0.38 per cent. Total provisions were 4.19 times the regulatory requirement, the release said.

Published on April 22, 2011

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