The Hindu Business Line : India Infoline standalone net up 8% in Q1

Mumbai, July 17 India Infoline reported an 8 per cent increase in its standalone net profit for the first quarter of the current fiscal. It rose marginally to Rs 44.5 crore from Rs 41.2 crore during the corresponding year-ago quarter.

Total income rose to Rs 188 crore from Rs 169 crore.

“The industry has been pleasantly surprised at the swift recovery in the market sentiment as well as volumes in the previous quarter. While it will be premature to conclude that global financial markets are out of the woods, it may be reasonable to believe that in the Indian context, the worst is behind us,” said Mr Nirmal Jain, Chairman of India Infoline.

On a consolidated basis the net profit rose 5 per cent to Rs 51.6 crore from Rs 49.5 crore. Total income fell 5 per cent to Rs 256 crore from Rs 269 crore.

The company saw an increase in its equity and commodities brokerage related revenues. Income from equity brokerage rose from Rs 158 crore to Rs 176 crore and commodities brokerage income from Rs 4.99 crore to Rs 6.6 crore.

The revenue streams that saw a dip in income include financing and investing, life insurance agency and marketing and online media.

The share price of India Infoline fell 2.04 per cent to Rs 132.25 on the BSE on Friday.

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