Indiabulls Ventures rose 1.27% to Rs 178.85 after the company announced Q3 result after trading hours yesterday, 23 January 2020.
Consolidated net profit fell 15.9% to Rs 101.40 crore on a 53.1% increase in total income to Rs 867.70 crore in Q3 December 2019 over Q3 December 2018.Consolidated profit before tax slipped 21.1% to Rs 136.89 crore in Q3 December 2019 as against Rs 173.52 crore in Q3 December 2018. Tax expense reduced 42.6% to Rs 23.59 crore in Q3 December 2019 as compared to Rs 41.13 crore in Q3 December 2018. The Q3 earnings was declared after trading hours yesterday, 23 January 2020.
As of 31 December 2019, the total Asset under Management (AUM) stood at Rs 10,743 crore.
The company's goal is of an asset light model by selling the loans originated and focus primarily on fee based revenues. The loans originated by the company are now bought by number of private banks and mutual funds.
Indiabulls Ventures provides securities and derivative broking services.
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