Financial Tech net profit up more than three-fold in FY'13

NEW DELHI: Financial Technologies today reported more than three-fold jump in consolidated net profit at Rs 227 crore for 2012-13 fiscal on account of higher revenues and good performance by subsidiaries.

It had clocked a net profit of 67 crore in the previous fiscal, the company said in a filing to the BSE.

Net income of the company increased to Rs 752 crore in the 2012-13 fiscal, as against Rs 501 crore in the previous fiscal.

Commenting on the performance, Financial Technologies whole-time Director Dewang Neralla said: "On a consolidated basis our profits (excludign profit from sale of shares) has grown to Rs 227 crore. This year has seen remarkable performance by our subsidiaries NSEL and NBHC and our associate IEX."

The net profit of subsidiary firm National Spot Exchange Ltd (NSEL) increased to Rs 127 crore in the 2012-13 fiscal from Rs 29 crore in the previous year.

The net profit of its another subsidiary firm National Bulk Handling Corporation (NBHC) rose to Rs 14.5 crore from Rs 3.2 crore in the review period.

Similarly, the net profit of its associate firm Indian Energy Exchange (IEX) increased to Rs 66 crore in the 2012-13 fiscal from Rs 34 crore in the previous year.

The shares of the company rose marginally to settle at Rs 840.5 apiece on the BSE today.