IDFC Q4 net up 3% at Rs 356 crore
Finance Secretary RS Gujral said that there was no question of the government negotiating with any company on the tax amendments proposed in the Finance Bill for 2012-13.
Infrastructure Development Finance Company (IDFC) posted a meagre 2.97 per cent increase in net profit at Rs 356.8 crore for the fourth quarter ended March 31, 2012.
The company had a net profit of Rs 346.5 crore in the same quarter in the previous fiscal, IDFC said in a BSE filing. Total income of the company increased to Rs 1,658.9 crore during the quarter against Rs 1,303.4 crore in the same period of the previous fiscal.
The infrastructure finance company proposed a dividend 23 per cent or Rs 2.30 per share on the face value of Rs 10 for 2011-12.
For the financial year ended March, 2012, IDFC recorded a net profit of Rs 1,602.9 crore, compared to Rs 1,277.1 crore in the previous fiscal, an increase of 25.5 per cent.
Total income of the lender rose to Rs 6,196 crore in the financial year 2011-12 from Rs 4,560.3 crore in the last fiscal.