Infrastructure Development Finance Company Ltd (IDFC) today said its consolidated net profit rose by 96.25 per cent to Rs 228.11 crore for the quarter ended March 31, 2010.
Income from operations rose to Rs 1,023.83 crore for the quarter ended March 31, from Rs 956.10 crore in the same period previous fiscal, IDFC said in a filing to the Bombay Stock Exchange.
For the year ended March 31, 2010, the company has reported a net profit of Rs 1,062.29 crore, up 41.67 per cent over the year-ago period. The board of directors of the company proposed a dividend of Rs 1.50 per share.
The board has also approved to raise Tier-1 and Tier-2 capital of up to Rs 3,500 crore for meeting future growth needs.
The amount is expected to be raised through issue of appropriate equity or quasi-equity instruments in one or more tranches over the next 12 months. The proposal is subjected to shareholders' approval.
Shares of IDFC were trading at Rs 170.50 on BSE, up 0.71 per cent from previous close.
