New Delhi, Apr 26 (UNI) IL&FS Investsmart Ltd. (IIL) today reported a 109 per cent growth in its net profit at Rs 69.1 crore for the year ended march 31, 2006 as against Rs 33.1 crore during the same period last year.
IIL is India's financial multiplex providing investment advisory, broking and distribution services company.
Total income of the company for the year was 84 per cent higher at Rs 217 crore compared to Rs 118 crore last year.
Income from the retail business stood at Rs 147 crore up by 64 per cent as against Rs 90 crore the previous year.
Income from wholesale business rose by 141 per cent to Rs 66 crore compared to Rs 27 crore in 2004-05.
''Our company has been able to successfully exploit the market run and post handsome gains. We are excited at the rapid strides made and are focused on stregnthening our retail operations, keeping in line with our vision to be the preferred lifelong financial partner to a wide base of consumers whilst optimizing stakeholder value,'' said Mr Hemang Raja, MD&CEO of ILL, while announcing annual results at a press conference here.
Diluted earnings per share stood at Rs 13.86 for FY06, as against Rs 9.45 for FY05 registering an increase of 47 per cent.
The company has also proposed a dividend of 30 per cent for the year. UNI BBS SS VC1805