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Indiabulls Financial Q3 net 21% to Rs 250 cr

Indiabulls Financial Services announced 21% jump in consolidated net profit at Rs 250.07 crore in the third quarter ended December 31.

Updated: Jan 30, 2012, 09.02 PM IST

MUMBAI: Indiabulls Financial Services (IBFSL) today announced 21 per cent jump in consolidated net profit at Rs 250.07 crore in the third quarter ended December 31 from Rs 206.75 crore for the comparative period last year due to sustained momentum in home loans segment.

The consolidated total revenues for nine months ended December 31 stood at Rs 971.83 crore from Rs 685.05 crore in the same period last year, posting a growth of 42 per cent, the leading non-banking financial services and housing finance company said in a statement said here.

EPS for nine months of FY12 has increased by 37 per cent at Rs 22.35 as compared to Rs 16.33 in the same period of last fiscal.

Assets Under Management (AUM) reached Rs 25,081 crore in the quarter under review.

IBFSL Chief Executive Officer Gagan Banga said, "Our home loan business continues to show momentum with constructive increase in revenues quarter-on-quarter. A strong focus on operational competence and additions to branch network has resulted in consistent growth in loan book."

"Assets have grown at a quarterly average of Rs 2,000 crore over the course of last nine quarters. The company's AUM crossed Rs 25,000-crore mark for the first time in this quarter," Banga said.

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