IL&FS Investment Managers skids after reporting dismal Q4 results

IL&FS Investment Managers skidded 4.07% to Rs 17.70 at 15:25 IST on BSE after consolidated net profit slumped 63.58% to Rs 8.41 crore on 27.56% drop in net total income from operations to Rs 38.41 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 3 May 2016.

Meanwhile, the BSE Sensex was down 209.16 points, or 0.82%, to 25,227.8.

On BSE, 2.24 lakh shares were traded in the counter compared with average volume of 1.96 lakh shares in the past one quarter. The stock hit a high of Rs 18.50 and a low of Rs 17.65 so far during the day.

IL&FS Investment Managers' board of directors recommended a dividend of Rs 1.20 per share for the year ended 31 March 2016 (FY 2016).

IL&FS Investment Managers' board of directors approved acquisition of the balance 49% in its subsidiary, IL&FS Asian Infrastructure Managers (lAIML) from ORIX Corporation, Japan or 22.50 lakh shares of lAIML at a price of Rs. 12.34 per share for a total consideration of Rs 2.77 crore. This acquisition will make lAIML a 100% subsidiary of the company. The transaction is being done at a price based on an independent valuation.

IL&FS Investment Managers is India's first and only listed private equity firm. The company has been a pioneer in managing and advising private equity investments, ranging from real estate, infrastructure to sector agnostic private equity funds.

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