IDFC Q2 profit rises 14%

CORPORATE SCORECARD

Infrastructure Development Finance Company (IDFC) has registered a 14.87 per cent rise in net profit to Rs 232.27 crore for the quarter ended September 2008 from Rs 197.72 crore in the corresponding quarter last year.During the same period, the company’s total income increased by 43.45 per cent to Rs 939.70 crore against Rs 655.08 crore a year ago.

However, during the first six months of 2008-09, the company reported a 7 per cent decline in gross disbursements to Rs 4,663 crore compared with Rs 5,034 crore in the same period a year ago.Commenting on this, an IDFC executive said this was in line with the company’s strategy to go slow on disbursements in the wake of tight liquidity conditions during the period.