ILFS Transportation Q3 net up 23% at Rs 159 cr

IL&FS Transportation Networks today reported a 23.25 per cent jump in consolidated net profit at Rs 159.07 crore for the quarter ended December 31, 2015 on the back of increase in income.
The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs 129.06 crore during the corresponding quarter last fiscal, it said in a regulatory filing.
Total income from operations saw an increase of 12.11 per cent to Rs 2,190.59 crore for the October-December quarter as against Rs 1,953.88 crore in the year-ago period.
However, the firm's total expenses were almost flat at Rs 1,469.82 crore for the quarter under review, it added.

Segment wise, surface transportation contributed Rs 2,093.10 crore to its revenue during the quarter as compared to Rs 1.868.33 crore in the corresponding quarter of the previous fiscal.
During the quarter, Jharkhand Infrastructure Implementation Company became a subsidiary of the group. There is no material impact on the financial results of the company as a consequence of it, the statement added.

IL&FS Transportation was formed in 2000 as a wholly-owned subsidiary of Infrastructure Leasing and Financial Services Limited (IL&FS), a player in infrastructure development and financing.
Transportation infrastructure development was initially taken up in IL&FS and thereafter the transportation vertical IL&FS Transportation was formed.

IL&FS Transportation is the largest BOT (build, operate, transfer) road asset owner in India with approximately 13,100 km lanes in its portfolio.
It also has presence in metro rail, city bus services and border check-posts, besides an international footprint covering Spain, Portugal and Latin America with the acquisition of Elsamex SA, a Spain-based highway operations, maintenance and allied services provider.
IL&FS Transportation shares closed 3.66 per cent down at Rs 69.70 apiece on BSE.