Infrastructure Development and Finance Corporation (IDFC) reported a 46 per cent jump in consolidated net profit to Rs 269 crore for the third quarter of 2009-10 from Rs 184 crore in the year-ago quarter.
The consolidated bottom line growth was aided by a 62 per cent rise in revenues from the company’s investment banking and asset management divisions.
On a standalone basis, the infrastructure financier saw a net profit growth of 39 per cent to Rs 240 crore from Rs 172 core in the December 2008 quarter.
Core business revenues were weighed down by a jump in provisions to Rs 42.3 crore in the December 2009 quarter as against a write-back (restore or increase the value of an asset on a balance sheet after a previous write-off) of Rs 1.67 crore in the corresponding quarter last year.
Gross non-performing assets more than doubled to Rs 77.6 crore as of December 31, 2009, against Rs 34.6 crore a year ago.
Dewan Housing Finance net up 73%
Dewan Housing Finance (DHFL) has reported a 72.95 per cent increase in net profit to Rs 40.16 crore for the quarter ended December 31, 2009, against Rs 23.22 crore in the corresponding quarter last year. The mortgage lender has reported a 42.30 per cent increase in total income to Rs 260.65 crore in the quarter.
Loan sanctions grew 98.59 per cent on an year-on-year basis to Rs 1,325.32 crore, while disbursements grew 79.82 per cent to Rs 997.67 crore.
Total income for the quarter rose to Rs 260.65 crore against Rs 183.17 crore in the corresponding quarter last year, up 42.30 per cent. The company posted a net interest margin (difference between yield on advances and cost of funds) of 2.95 per cent.
It earned a third-party fee-based income of Rs 17.40 crore in the first nine months of the financial year 2009-10.
Edelweiss Cap jumps 41%
Edelweiss Capital has reported a 41 per cent rise in net profit at Rs 53.58 crore for the December quarter compared with the year-ago period. Its consolidated revenue rose 16 per cent to Rs 230.21 crore. The company has announced an interim dividend of Rs 2 per share.
Among the various income verticals, fee and commission revenues were pegged at Rs 85.92 crore, while treasury, arbitrage and trading revenues were Rs 60.73 crore. Interest revenue for the quarter was Rs 74.38 crore.
According to a company release, the group closed 10 deals in the quarter even as advisory deals closure continued to be slow. Meanwhile, Edelweiss Alternative Asset Advisors has launched Edelweiss Special Opportunities Fund in the quarter and announced its first closure at $105 million. The total loan book size as on December 31, 2009, was more than Rs 1,000 crore and comprised loans granted against securities.
