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Indiabulls Financial Services posts 22% rise in Q3FY12’s net profit

30 Jan 2012 Evaluate

Indiabulls Financial Services has reported results for the quarter ended December 31, 2011.

The company posted marginal increase of 2.89% in its standalone net profit for the quarter at Rs 179.01 crore as compared to Rs 173.98 crore for the quarter ended December 31, 2010. Company’s total income has increased by 29.57% at Rs 745.59 crore for the December quarter of the current fiscal from Rs 575.41 crore for the corresponding quarter of the previous fiscal.

On consolidated basis, the Group has posted a rise of 22.15% in its Q3FY12’s net profit after tax and minority interest at Rs 247.41 crore as compared to Rs 202.54 crore in Q3FY11. Its total income has increased by 41.86% to Rs 971.83 crore for the quarter ended December 31, 2011 from Rs 685.05 crore for the quarter ended December 31, 2010.

Indiabulls Financial Services (IBFSL) is registered with RBI as systematically important non deposit taking NBFC. Currently, IBFSL is mainly engaged in the business of mortgage financing (home loans, loan against property and lease rental discounting), commercial vehicle finance and corporate finance. It has presence at 160 locations throughout 18 states and union territories of India.

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