Date:20/01/2007 URL: http://www.thehindubusinessline.com/2007/01/20/stories/2007012003620600.htm

Back IDFC Q3 net up by 29% at Rs 115.5 crore

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Mumbai Jan. 19 The buoyant infrastructure sector pushed up the net profit of Infrastructure Development Finance Company Ltd (IDFC) in the third quarter of the current fiscal by about 29 per cent to touch Rs 115.5 crore compared with Rs 89.40 crore posted during the corresponding quarter of the previous fiscal. During the quarter, its total income increased to Rs 386.26 crore (Rs 244.86 crore). The consolidated net profit and income during the quarter were higher at Rs 124.99 crore (Rs 93.38 crore) and Rs 402.30 crore (Rs 253.27 crore) repectively.

Expressing satisfaction over the results, Mr Rajiv Lall, IDFC's Managing Director and CEO, said during the nine-month period, its gross approvals and disbursements/commitments were Rs 9,105 crore for 81 projects and Rs 5,348 crore for 79 projects respectively. He said the company continued to focus primarily on the energy, transportation (including ports and airports) and telecom segments of the infrastructure sector.

According to Mr Lall, the energy sector accounted for the biggest chunk (40 per cent) of its outstanding exposure, while transportation and telecom segments accounted for 28 per cent and 18 per cent respectively.