India Infoline to sell stake in Moneytree

New Delhi, July 24: India Infoline today said its board has approved to divest stake in Moneytree Consultancy Services, a 75 per cent subsidiary of India Infoline Distribution Company Ltd (IIDCL).

The business of mortgages and loans distribution, is now being conducted by IIDCL.

The company posted a 153.5 per cent growth in its consolidated net profit of Rs 18.96 crore for the fiscal first-quarter ended June 30, 2006 as against Rs 7.48 crore in the same quarter a year ago.

UNI