Idfc Net Dips 3.6% In Fiscal 2003
Profit after tax at Infrastructure Development Finance Company Ltd (IDFC) slipped 3.6% per cent from Rs 186.63 to Rs 179.95 crore in 2002-03.
Disbursals during 2002-03 dipped to Rs 949 crore against Rs 1,506 crore for the year ending 31 March 2002.
Total income during 2002-03 was Rs 458.87 crore against Rs 405.30 crore for 2001-02, registering an increase of 13 per cent.
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Operating income registered an increase of 31.84 per cent during 2002-03. Operating income in 2002-03 was Rs 352.47 crore against Rs 267.65 crore in 2001-02.
Provision for doubtful loans, contingencies and diminution in value of investments during the previous year was of Rs 13.80 crore and loss on sale of investments during 2002-03 was Rs 17.28 crore.
The company is expecting a near three-fold increase in disbursements in the current fiscal.
Nasser Munjee, managing director and CEO, said,