IDFC net up nearly 55% to Rs 524.27 cr

Infrastructure Development Finance Company Ltd (IDFC) has reported a jump of 54.93% in net profit to Rs 524.27 crore for the quarter ended September 30, 2011, on higher income from operations.

The non-banking finance company had posted a net profit of Rs 338.39 crore in the July-September quarter of 2010.

The company's income from operations during the quarter rose to Rs 1,714.93 crore from Rs 1,216.75 crore in the same period last fiscal, IDFC said in a statement today.

During the first six months of FY2011-12, the net profit of the company rose by 24.42% to Rs 837.97 crore from Rs 673.51 crore in the corresponding period of the previous fiscal, it said.

The NBFC's income from operations during the April-September 2011 period rose to Rs 3,066.27 crore from Rs 2,307.15 crore in the same period of FY2010-11, it added.

Shares of the company today closed down by 2.59% at Rs 125.80 on the BSE.