| Related Tables |
| 4 Indiabulls: Consolidated Results |
| 4 Indiabulls: Standalone Results |
Financial Performance: Consolidated Results
Quarter ended Dec' 07
In the quarter ended Dec '07, the income from operations grew by 36% to Rs 453.46 crore. The other income declined by 89% to Rs 0.08 crore taking the total income to Rs 453.54 crore, up by 36%. The interest expenses spurted by 450% to Rs 101.63 crore for the quarter. However with the total expenditure declining by 17% to Rs 119.90 crore and depreciation declining by 62% to Rs 1.81 crore, the PBT growth remind at 38% at Rs 230.20 crore. With rise in tax provision by 47% to Rs 66.32 crore, the net profit settled at Rs 163.88 crore, up by 47%.
Nine months ended Dec '07
Its income from operations advanced by 37% to Rs 1125.30 crore for nine months ended Dec'07. With other income declining by 6% to Rs 2.43 crore, the total income growth was restricted by 37% to Rs 1127.73 crore. Its total expenditure increased marginally by 3% to Rs 365.36 crore and also the interest cost grew by whopping 321% to Rs 183.88 crore. Nevertheless with the depreciation provision declining by 54% to Rs 5.30 crore, the PBT stood at Rs 573.19 crore, up by 38%. However with tax provision increasing by 38% to Rs 181.89 crore, the net profit was restricted with growth of 38% to Rs 391.30 crore.
Financial Performance: Standalone Results
Quarter ended Dec' 07
In the quarter ended Dec '07, the income from operations grew by 315% to Rs 326.74 crore. The other income declined by 98% to Rs 0.02 crore taking the total income to Rs 326.76 crore, up by 310%. The interest expenses spurted by 616% to Rs 84.15 crore for the quarter. Further with the total expenditure declining by 524% to Rs 83.57 crore and depreciation increasing by 423% to Rs 1.57 crore, the PBT growth was restricted by 190% to Rs 157.47 crore. Further with tax provision increasing by 190% to Rs 52.32 crore, the net profit settled at Rs 105.15 crore, up by 190%.
Nine months ended Dec '07
Its income from operations advanced by 321% to Rs 872.57 crore for nine months ended Dec'07. With other income increased by 355 to Rs 2.12 crore lifting the total income by 319% to Rs 874.69 crore. Its total expenditure increased by 736% to Rs 305.08 crore and also the interest cost grew by whopping 285% to Rs 172.17 crore. Further with the depreciation provision declining by 416% to Rs 4.44 crore, the PBT stood at Rs 393 crore, up by 210%. With tax provision increasing by 211% to Rs 130.92 crore, the net profit was restricted with growth of 210% to Rs 262.08 crore.
Business Highlights
• During the quarter, ISL's business grew 107.5% driven through addition of new clients, increase in client facing relationship managers and realignment of operations completed during the quarter. ISL was able to significantly exceed market growth rate during the quarter and thus continue its long-term trend of increasing market share.
• Overall Equities environment is seeing increased activity driven by higher market volumes, increased volatility and increased retail customer participation. Average daily volumes on NSE – CM grew 54% for the nine months ended December 2007, as compared to the corresponding period last year, driving strong business growth.
Strategic Update
• De-merger of Indiabulls Securities Limited was declared effective on 24th December 2007. As per the Scheme, every shareholder of Indiabulls Financial Services Limited as on 8th January 2008 will receive a share of Indiabulls Securities Limited. The demerger has created a focused Securities business with the leading retail brokerage and transaction services franchise in the Securities market. Indiabulls Securities Limited is expected to list during late January / early February, 2008
New Business Update
• Institutional Business: Indiabulls Securities Limited is in discussions to set up an Institutional business by acquiring an experienced market facing team and incentives them through Warrants and ESOP allocation. Indiabulls expects to be a significant player in the Institutional business in the near term.
• Alternative Asset Management Business: Indiabulls Securities Limited is sponsoring 2/20 fund entity to benefit from its market expertise and to benefit from the increased activity in the alternative asset management industry. This initiative would add to the earnings power of the company as well as increase the stability of earnings for the long term
The scrip of the company is currently trading at Rs 845.
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