Indiabulls Financial Q3 Profit Rises

Indiabulls Financial Services Ltd., one of India's leading financial services and real estate companies, reported a higher net profit for the third-quarter, both on consolidated and stand-alone basis, on increased incomes.

Consolidated Results

The New Delhi-based company's third-quarter consolidated net profit, after minority interest, rose by 31 percent to Rs.323.56 crore from the Rs.247.41 crore in the corresponding quarter last year. On a per share basis, earnings for the quarter increased by 28 percent to Rs.10.14 from the Rs.7.90 in Q3FY12.

Quarterly income from operations grew by 31 percent to Rs.1,147.76 crore from the Rs.875.01 crore in the year-ago quarter, while other operating income was Rs.62.88 crore, compared with Rs.87.19 crore for the same period last year.

During the quarter, income from 'Investing & Financial related activities' increased by 31 percent to Rs.1,200.73 crore from the Rs.916.96 crore in the corresponding quarter last year, while that of 'Fee Income' fell by 78 percent to Rs.9.91 crore from the Rs.45.24 crore in the previous year quarter.

Stand-alone Results

For the quarter, the company's stand-alone net profit stood at Rs.229.88 crore or Rs.7.20 per share, compared with Rs.179.01 crore or Rs.5.72 per share in the year-ago quarter. Net profit and earnings per share grew by 28 and 26 percent, respectively.

Total income, including other operating income grew by ten percent to Rs.812.48 crore from the Rs.735.43 crore for the same period last year.

The company's board recommended a second interim dividend of Rs.5.50 per equity share of Rs.10 each for the fiscal year 2013.

At the BSE, Indiabulls shares are now trading at Rs.333.15, up 1.00 percent from the previous close.

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by RTT Staff Writer

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