IL&FS Investment Q2 net rises 14% to Rs 18.08 cr

Private equity firm IL&FS Investment Managers Limited (IIML) has reported a 14.1 per cent jump in net profit at Rs 18.08 crore for the September quarter.
The net profit in the corresponding period last year was Rs 15.84 crore.
The total income of the company stood at Rs 49.31 crore in the second quarter as against Rs 45.59 crore in the corresponding period last year, a company statement said here.
IIML's continues to focus on divesting existing funds and fund raising across all verticals. These efforts combined with new strategic initiatives such as Infrastructure Debt Fund (IDF), state focused infrastructure funds, pooled investments should lead to a larger AUM over the next 24 months, it added.

"Amongst the advanced economies, consumer spending increased in the US and an accommodative monetary policy has led to a fragile recovery in Europe. On the other hand, emerging market economies have been impacted by slowing global trade, depressed commodity prices, weakening currencies and capital flows," IL&FS Investment Managers Chief Executive Officer Archana Hingorani said.
IIML is also acquiring the Infrastructure Debt Fund (IDF) business from IL&FS Financial Services Limited for which SEBI approvals are awaited.