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Tuesday, September 1, 2009

IDFC Good infra Stock To Hold On

IDFC A company, which has been on a roll before and after the Budget, IDFC has maintained its performance for the first quarter ended 30th June 2009. It's Net Interest Income (NII) increased by 33% to Rs.922 crore. The increase in non-interest income has been quite substantial, it rose 32% at Rs.217 crore, which is as much as the NII and this is what has boosted the overall performance.
The decision to diversify into asset management also helped. IDFC's asset management business increased 4 times to Rs. 72 crore in Q1FY10. This jump was due to new funds raised private equity, in project equity and on account of the AUM acquired through the acquisition of the mutual fund.
Profit before tax (PBT) increased by 30% to Rs. 372 crore. After accounting for Rs. 97 crore for tax and share of profit in associate company, PAT was up 26% to Rs.272 crore.

FY09 was a tough year for IDFC and it adopted a cautious approach, adopted a better to be safe than sorry attitude.
Now that things have settled, the company is back to concentrating on growth. Given the emphasis to infra, IDFC is poised to do well stay invested and enter at every dip. thanks
Its exposure to tourism and cement sectors has gone up. The biggest concern was IDFCs' exposure to realty. Energy remained the top sector,


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