FTIL posts 7% increase in Q1 net

NEW DELHI: Financial Technologies (India) Ltd today reported 7 per cent increase in net profit at Rs 81.20 crore in the first quarter ended June 30, on account of increase in sales and lower finance cost.

The company had clocked net profit of Rs 76.06 crore in the April-June quarter of 2012-13 fiscal.

Total income of FTIL in Q1, 2013-14 increased by 47 per cent to Rs 104.10 crore, from Rs 76.06 crore in the year-ago period, the company said in a filing to the BSE.

Profits of FTIL, operator of nine exchanges were up as its sales increased to Rs 101.67 crore from Rs 68.12 crore and finance cost come down to Rs 4.50 crore from Rs 14.05 crore during the period under review.

"This has been a steady quarter for FTIL. We booked total income of Rs 169 crore and profit before tax of Rs 110 crore for the quarter ended June 30, 2013 an increase of 32 per cent from same quarter last year," said Dewang Neralla Whole Time Director FTIL.

FTIL's market capitalisation value as on date today stands at Rs 2,532.48 crore. Board of the company declared interim dividend of 100 per cent on the face value of Rs 2 per share.

The shares of the company fell 4.36 per cent to Rs 550.10 apiece on the BSE today.