Financial services company India Infoline today reported a 54.28 per cent dip in its net profit at Rs 29.78 crore for the third quarter ended December 2008.
The company had a net profit of Rs 65.14 crore in the December quarter of FY08, India Infoline said in a filing to the Bombay Stock Exchange.
Besides, the board has approved an investment of $10 million (about Rs 49 crore) to set up its wholly-owned subsidiaries in the UK, Dubai and Mauritius for undertaking financial services business.
The company's income from operations dropped 26 per cent to Rs 229.51 crore during the quarter under review, from Rs 310.16 crore in the same period last fiscal.
However, the net profit for the nine-month ended December 2008, grew 27.17 per cent over the year-ago period to Rs 119.53 crore.
Also the board has declared an interim dividend of Rs 2.80 a share on every share of Rs two each held.
India Infoline settled at Rs 44.5, marginally up on the BSE today.
