IDFC Q3 net profit up 11% to Rs 89.4 cr

Infrastructure Development Finance Company Ltd (IDFC) has posted a 11.33 per cent rise in net profit at Rs 89.4 crore for the quarter ended December 31, 2005 compared with Rs 80.3 crore in the corresponding quarter of the preceding fiscal.

Total income under review has increased to Rs 244.9 crore in the reporting quarter from Rs 177.5 crore in the comparable period of 2004.

Fee income has risen to Rs 59 crore compared with Rs 34 crore in the corresponding quarter of the previous fiscal, while equity gains amounted to Rs 17 crore for Q3 FY05-06. On an year-on-year basis, the gains from equity stood at Rs 100 crore.

Net interest income from infrastructure loans during April-December 2005 increased by 14 per cent to Rs 217 crore from Rs 189 crore in the corresponding period of the previous fiscal.

Income from fees and advisory services during the period increased by 73 per cent to Rs 59 crore from Rs 34 crore in the corresponding period last year.

Between April and December, gross approvals and disbursements commitments stood at Rs 7,476 crore for 64 projects and Rs 4,124 crore for 63 projects. This reflects an increase of 46 per cent and 60 per cent respectively over the figures for the same period in the previous fiscal.

As on December 31, 2005, IDFC's exposure was Rs 16,364 crore. Disbursements (including non-funded commitments) were made for 141 projects aggregating Rs 14,702 crore. Of these, Rs. 4,450 crore has been repaid/ pre-paid.

Thus, outstanding disbursements, as on December 31, 2005, were Rs 10,252 crore, of which net loans constituted Rs 8,705 crore.