Indiabulls net up 55%

BS 200 SCORECARD

Indiabulls Financial Services today said its consolidated net profit for the quarter ended December 31 grew 55.9 per cent to Rs 117.6 crore compared with Rs 71.6 crore in the corresponding period last fiscal.

The company has also announced 100 per cent interim dividend of Rs 2 per share on a face value of Rs 2. Total consolidated revenues rose by 103.5 per cent in the third quarter to Rs 334.53 crore from the previous year's Rs 164.37 crore, the company said in a press release.

Indiabulls Financial's consumer finance business saw a quantum jump in overall disbursals during the quarter, fuelled by a high growth in secured loans portfolio and small business loans.

Loans outstanding grew 1,547 per cent year-on-year to Rs 1,240.19 crore as on December 31 compared with Rs 75.28 crore.

On a quarter-on-quarter basis, the figure grew by 146 per cent from Rs 504.45 crore of loans outstanding as of September 30, 2006. Annualised yield on all loans outstanding in consumer portfolio is 25 per cent, it said.

For the nine-month period, the company's consolidated total revenues shot up by 97.7 per cent to Rs 825.62 crore from Rs 417.67 crore in the year-ago period. Consolidated net profit during the period grew 63.9 per cent to Rs 283.47 crore from Rs 172.98 crore.