The IDBI Capital Market Services Ltd has posted a two per cent dip in net profit to Rs 228.15 crore in the year ended March 31, 2003, compared with Rs 233.99 crore in the previous fiscal.
Total income was higher at Rs 503.95 crore (Rs 469.9 crore), while turnover increased by 72 per cent to Rs 2,52,644 crore (Rs 1,46,597 crore).
The fall in profits has to be seen in light of the falling interest rates by just one per cent against the three per cent decline in 2001-02, said IDBI Capital managing director G V Nageswara Rao.
Further, the return on capital fell from 89 per cent last year to 51 per cent this year.