IL&FS Posts Nearly Four-Fold Jump In Net In 6 Months

New Delhi: Infrastructure Leasing & Financial Services (IL&FS) on Wednesday reported a nearly four-fold jump in its net profit at Rs 100.60 crore for the six month ended March 2016.

The company had registered a net profit of Rs 25.61 crore for the corresponding period of the previous fiscal year (2014-15).

Total income for the half year ended March rose to Rs 1,053.29 crore as against Rs 650.68 crore in the corresponding period of 2014-15, it said in a regulatory filing.

Provisions and contingencies for the period were raised to Rs 86.99 crore as against Rs 58.06 crore in the same period of 2014-15.

For full fiscal year 2015-16, net profit fell to Rs 274.03 crore from Rs 304.85 crore in 2014-15.

Total income during the fiscal year increased to Rs 1,912.52 crore as against an income of Rs 1,430.46 crore in previous fiscal year.

As of March 31, 2016 company's net worth was of Rs 5,608.86 crore.

The company said it declared an interim dividend for 2015-16 on March 30, 2016 and has paid the same. 

"At the board meeting on May 24, 2016, board had approved interim dividend paid to be treated at financial dividend. Hence, there is no requirement to pay additional dividend for 2015-16", it said.

The company is in the business of providing financial services relating to commercialisation of infrastructure including loans and investments in group companies.