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Our Bureau

Mumbai, Jan. 21 India Infoline reported a 67 per cent dip in its standalone net profit for the quarter ended December 31, 2008, to Rs 20.8 crore from Rs 64.7 crore in the corresponding year-ago quarter.

The company’s total income dropped 45 per cent to Rs 131.7 crore (Rs 239.8 crore).

The company’s consolidated net profit fell 54 per cent to Rs 29.7 crore from Rs 65.1 crore.

The total income of the company dropped 26 per cent to Rs 230.4 crore from Rs 310.6 crore.

The board has approved an interim dividend of Rs 2.8 a share.

The company plans to set up subsidiaries in Dubai, Mauritius and in London for undertaking financial services business.

The board has approved a fresh investment of up to $10 million in overseas subsidiaries.

The company also plans to extend its research coverage to other Asian countries. The company will also offer offshore asset and wealth management services to Indians living abroad.

The company’s share price was up marginally by 0.34 per cent at Rs 44.5 on the BSE on Wednesday.

More Stories on : Financial Performance | Financial Services

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