IL&FS Transportation Q4 net up 3% at Rs 80.42 crore

IL&FS Transportation Networks on Friday reported a 3.30% increase in consolidated net profit at Rs 80.42 crore for the March quarter.

The company had posted a net profit of Rs 77.85 crore in the corresponding quarter of 2014-15 fiscal, it said in a regulatory filing.

Total income from operations rose by 71.77% to Rs 2,548.04 crore as against Rs 1,483.49 crore in the year-ago period.

The firm's total expenses surged to Rs 1,858.28 crore for the quarter under review as against Rs 1,063.72 crore in the same period a year ago.

Its surface transportation segment contributed Rs 2,448.73 crore to the revenue in the fourth quarter, compared with Rs 1,399.92 crore in the year-ago period.

During the quarter, Rajasthan Land Holdings, Flamingo Landbase, Devika Buildestate, Chirayu Kath Real Estate and GRICL Rail Bridge Development Company have become wholly-owned subsidiaries of the group.

There is no material impact on the financial results of the company as a consequence of it, the firm said.

For the entire 2015-16 fiscal, the company's consolidated net profit declined 29.77% to Rs 311.54 crore as against Rs 443.60 crore in the preceding fiscal.

The company also said its board has recommended a dividend of Rs 2 per share (20%) for the year ended March 31, on 32,89,60,027 equity shares of Rs 10 each subject to approval of the shareholders.

The board has also given nod for seeking shareholders' approval for raising funds by issuing non-convertible debentures from time-to-time to the extent of Rs 2,500 crore.

IL&FS Transportation shares were trading at Rs 73.45 apiece on BSE, up 2.05% from the previous close at about 1430 hours.