Sunday, March 13, 2011

Infrastructure Development Finance Company LTD = IDFC = RESULTS = FOT Q3 FY 2011 = QTR ENDING DECEMBER 2010 = NET PROIFTUP 26.7% = CONS_NPT UP BY 19.11% = YOY


Infrastructure Development Finance Company Limited

NSE Symbol IDFC

IDFC has declared its results for  Q3 FY 2011 ending December 2011 – which are analyzed below on both stand alone (SA) and consolidated (CS) basis :

Net Sales on SA basis is Rs.1162.15 cr – up by 6.24% from Q2 FY 11(Previous Qtr) and by 31.95% from Q3 FY 10 (corresponding Qtr of previous year). The same on CS basis is Rs.1306.26 – up by 7.36% from Q2 FY 11; and up by 30.96% from Q3 FY 10. Thus, sales have registered very good progress YOY.

Total Expenditure on SA basis is Rs.100.79 cr – down by 3.72% from Q2 FY 11; but up by 21.02% from Q3 FY 10. The same on CS basis is Rs.212.05 cr – up by 20.92% from Q2 FY 11; and up by 39.91% from Q3 FY 10.

Profit from Operations on SA basis is Rs.1061.35 cr – up by 7.29% from Q2 FY 11; and up by 33.09% from Q3 FY 10. The same on CS basis is Rs.1094.21 cr – up by 5.07% from Q2 FY 11; and up by 29.36% from Q3 FY 10. Thus, at the operational stage, the growth in profits are excellent.

Profit before tax on SA basis is Rs.417.83 cr – down by 2.14% from Q2 FY 11; but up by 30.73% from Q3 FY 10. The same on CS basis is Rs.447.94 cr – down by 5.69% from Q2 FY 11; and UP by 21.77% from Q3 FY 10. PBT is thus down QOQ but has risen well YOY. This is due to steep rise in Interest cost.

Net Profit on SA basis is Rs.304.23 cr – down by 0.79% from Q2 FY 11; but up by 26.7% from Q3 FY 10; The same on CS basis is Rs.320.70 cr – down by 4.98% from Q2 FY 11; and up by 18.79% from Q3 FY 10. This is due to Tax expense, which though down QOQ is significantly up YOY. Yet, Net profit on YOY basis have risen reasonably well.

Consolidated Net Profit (after Minority interest & share of associates0 is Rs.321.47 cr – down by 5% from Q2 FY 11; but up by 19.11% from Q3 FY 10. Over all, the results are quite good in Q3 FY 11.

Basic EPS on SA basis in Q3 FY 11 is Rs.1.97 – against Rs.2.03 in Q2 FY 11; and Rs.1.85 in Q3 FY 10; The same on CS basis is Rs.2.08 in q3 FY 11- against Rs.2.26 in Q2 FY 11; and Rs.2.08 in Q3 FY 10. The face value is Rs.10.

RESULTS TABLE :

I D F C
31-Dec-10
30-Sep-10
31-Dec-09
Net Sales
116214.6
109391.3
88076.1
130625.6
121675.2
99743.26
Net Sales
116214.6
6.24
31.95
130625.6
7.36
30.96
Employees Cost
2542.91
2769.63
1687.15
8736.75
6450.83
5572.14
Depreciation
819.51
832.29
866.8
1026.46
1034.57
1069.06
Other Expenditure
6716.78
6867
5774.58
11441.52
10051.44
8514.62
Total Expenditure
10079.2
10468.92
8328.53
21204.73
17536.84
15155.82
Total Expenditure
10079.2
-3.72
21.02
21204.73
20.92
39.91
Profit from Operations
106135.4
98922.37
79747.57
109420.9
104138.4
84587.44
Profit from Operations
106135.4
7.29
33.09
109420.9
5.07
29.36
Other Income
606.06
628.92
40.74
375.35
238.6
45.97
Interest
64958.93
56855.77
47827.35
65001.87
56879.38
47847.5
Profit before tax
41782.55
42695.52
31960.96
44794.35
47497.59
36785.91
Profit before tax
41782.55
-2.14
30.73
44794.35
-5.69
21.77
Tax expense
11360
12030
7950
12723.88
13747.8
9787.54
Net Profit
30422.55
30665.52
24010.96
32070.47
33749.79
26998.37
Net Profit
30422.55
-0.79
26.7
32070.47
-4.98
18.79
Minority Interest



-24.94
-29.53
33.37
Shares of Associates



-51.87
-60.24
-25.7
Consolidated Net Profit



32147.28
33839.56
26990.7
Consolidated Net Profit



32147.28
-5
19.11
Face Value (In Rs
10
10
10
10
10
10
Paid Up Equity
146076.5
145999.6
129657.7
146076.5
145999.6
129657.7
Basic EPS
1.97
2.03
1.85
2.08
2.26
2.08
Diluted EPS
1.94
2.03
1.83
2.06
2.25
2.06
Public Holding (%)
100
100
100
100
100
100


ANNOUNCEMENTS
TO NSE

24-02-2011        decided to issue and allot on February 21, 2011, 15,14,587 Bonds having Face value and Issue Price of Rs. 5,000 aggregating Rs. 757,29,35,000/-.

22-02-2011        on February 21, 2011, had approved the following: (1) Prospectus- Tranches 3 which includes terms and conditions for Tranche-3: and (2) Issue to open for subscription from February 28, 2011-March 16, 2011.

31-01-2011        consolidated Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 130625.6 lacs for quarter ending on 31-DEC-2010 against Rs. 99743.26 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 32147.28 lacs for the quarter ending on 31-DEC-2010 against Rs. 26990.7 lacs for the quarter ending on 31-DEC-2009.

31-01-2011        standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 116214.62 lacs for quarter ending on 31-DEC-2010 against Rs. 88076.1 lacs for the quarter ending on 31-DEC-2009. Net Profit / (Loss) of Rs. 30422.55 lacs for the quarter ending on 31-DEC-2010 against Rs. 24010.96 lacs for the quarter ending on 31-DEC-2009.

05-01-2011        with reference to the proposed public issue by infrastructure Development Finance Company Ltd (the "Company") of long term infrastructure bonds of face value of Rs 5,000 each, in the nature of secured, redeemable, non-convertible debentures, having benefits under Section 80 CCF of the income Tax Act, 1961 (the "Bonds") for an aggregate amount not exceeding Rs 29289.64 million (the "issue") - Tranche 2. The Company has now informed that the Committee of Directors, at its meeting held on January 04, 2011, had approved the following:- (1) Prospectus- Tranche 2 which includes terms and conditions for Tranche- 2; and (2) Issue to Open for Subscription from January 17, 2011 - February 04, 2010.

17-12-2010        press release dated December 16, 2010, titled "IDFC and Natixis Global Asset Management Announce Strategic Partnership for Asset Management Business".

08-11-2010        consolidated Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 121675.21 lacs for quarter ending on 30-SEP-2010 against Rs. 101984.24 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 33839.56 lacs for the quarter ending on 30-SEP-2010 against Rs. 29184.12 lacs for the quarter ending on 30-SEP-2009.

08-11-2010        standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 109391.29 lacs for quarter ending on 30-SEP-2010 against Rs. 88251.79 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 30665.52 lacs for the quarter ending on 30-SEP-2010 against Rs. 25072.98 lacs for the quarter ending on 30-SEP-2009.

27-01-2010        consolidated Results for the quarter ended on 31-DEC-2009 as follows: Net Sales of Rs. 99743.26 lacs for quarter ending on 31-DEC-2009 against Rs. 86196.99 lacs for the quarter ending on 31-DEC-2008. Net Profit / (Loss) of Rs. 26990.4 lacs for the quarter ending on 31-DEC-2009 against Rs. 18461.58 lacs for the quarter ending on 31-DEC-2008.

27-01-2010        standalone Results for the quarter ended on 31-DEC-2009 as follows: Net Sales of Rs. 88076.1 lacs for quarter ending on 31-DEC-2009 against Rs. 79130.95 lacs for the quarter ending on 31-DEC-2008. Net Profit / (Loss) of Rs. 24010.96 lacs for the quarter ending on 31-DEC-2009 against Rs. 17267.86 lacs for the quarter ending on 31-DEC-2008.

RECENT NEWS :

Mumbai, February 23, 2011: IDFC has announced the public issue of its third tranche of secured, redeemable, long term infrastructure bonds having tax benefits under Section 80 CCF of the Income Tax Act, 1961 for an amount not exceeding Rs.2,172 Crore. The issue proceeds are proposed to be used for the Company’s infrastructure lending activities. IDFC has the authority to raise up to Rs.3,400 crore in one or more tranches during fiscal 2011. It has already raised Rs.1,228 crore in the first two tranches in November, 2010 and  February, 2011.

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