IL&FS net profit declines by 2.7%

Fund management company IL&FS Investment Managers today reported a decline of 2.7 per cent in its net profit at Rs 9.25 crore for the quarter ended June in the current fiscal over the same period last year.

The company had a net profit of Rs 9.51 crore for the same period ended June 2008, IL&FS said in a filing to the Bombay Stock Exchange (BSE).

Income from operations declined to Rs 21.55 crore in the quarter ended June against Rs 22.77 crore in the same quarter last year.

In a separate filing to the BSE, IL&FS said it has received approval from its board for a stock split in the ratio of 1:5.

Shares of IL&FS closed at Rs 146.55, up 4.74 per cent over the previous close on BSE.