India Securities has reported results for the quarter ended September 30, 2011.
The Company has posted a net loss of Rs 1.45 million for the quarter ended September 30, 2011 as compared to Profit after tax of Rs 2.40 million for the quarter ended September 30, 2010. Its total income has decreased by 92.60% at Rs 1.50 million for the quarter from Rs 20.26 million for the corresponding quarter of the previous year. On consolidated basis, the Group for the quarter ended September 30, 2011 has posted a Profit after tax and total income at Rs 2352.29 crore and Rs 2824.46 crore respectively.
India Securities is promoted by Essar (Ruia) group and is a subsidiary of Essar Investments. It is into the business of finance, corporate advisory services, project finance, intermediation services project money and foreign exchange markets.