IDFC H1FY08 net up 31% to Rs 375cr

Infrastructure Development Finance Company (IDFC), an investor in public works, today reported a 31% increase in consolidated net profit at Rs 375 crore for the first half of the current fiscal (H1FY08), when compared with Rs 286 crore in H1FY07.

The company registered an increase of 55% to Rs 329 crore in net interest income vis-a-vis Rs 213 crore in H1FY07.

Gross approvals stood at Rs 8,593 crore, an increase of 36% from Rs 6,317 crore in H1FY06 and gross disbursements stood at Rs 4,938 crore, an increase of 43% in H1FY06. There were no net non performing assets as on September 30, 2007.

The earnings per share (diluted) increased to Rs 3.11 a share in H1FY08 from Rs 2.53 in H1FY07, an increase of 23%.