IL&FS Investment Managers Jan-Mar quarter net down 22%

Private equity firm IL&FS Investment Managers today reported 22% dip in Jan-Mar quarter net profit at Rs 13.16 crore.

The company, which is the only listed player in the private equity space, had posted a profit of Rs 16.96 crore in the corresponding period last year.

Its total income for the reporting quarter dipped to Rs 27.98 crore from Rs 31.58 crore a year ago, while the operating profit was also down to Rs 18.63 crore from Rs 24.01 crore.

For the full fiscal, its consolidated revenue was up 1% to Rs 226.9 crore, while the net profit was up 4% to Rs 76.6 crore, it said in a statement.

Chief executive Archana Hingorani said the private equity vertical faced "extraordinary headwinds" during the entire fiscal.

The fund house invested Rs 772 crore from its real estate and infrastructure funds during the fiscal, while exits were worth Rs 538 crore, she said.

The company had exhausted its infrastructure funds and FY14 will see a greater focus on infrastructure fund-raising, Hingorani added.