IL&FS Investment Managers net marginally up to Rs 16.40 cr

IL&FS Investment Managers today reported its results for the quarter ended December 31, 2010. According to a company release, revenues stood at Rs 57.87 crore for the quarter ending December 31, 2010, compared to Rs 42.42 crore for the same quarter in FY10 reporting a growth of 36%.

The consolidated profit after tax (PAT) stood at Rs 16.40 crore compared to Rs 16.22 crore for the same quarter in FY10 reporting a marginal increase in profits.

The above-mentioned numbers include the impact of the amalgamation of the Saffron entities effective August 1, 2010, being the effective date of the amalgamation. The release further added that the impact of the growth in AUM is reflected in the enhanced revenue numbers for the quarter. 

However, the same is yet to translate into a growth in profits primarily due to amortisation of the consideration paid for the amalgamation, it added. The amortisation in the financials for this quarter includes an amortisation of Rs 5.54 crore.