May 18, 2010 (LBO) – Central Finance Company Limited (CFCL) group March quarter profits dipped 11 percent to 298.2 million rupees due to a steep jump in tax costs from a year ago, a stock exchange filing said. For the full year profits had dipped 7.1 percent to 1.0 billion rupees, its accounts showed.
In the March quarter CFCL group’s interest income rose 2.7 percent to 1.48 billion rupees, while interest expenses fell 16 percent to 695.6 billion, resulting in a net interest income of 789.5 million rupees, up 27.7 percent.
The group’s tax costs had shot up 79 percent to 283 million rupees, while value added tax (VAT) costs were 77.4 million rupees, up 65.6 percent, its accounts filed at the stock exchange showed.
In the March quarter CFCL group made earnings per share of 14.69 rupees compared with 16.51 rupees a year ago, its accounts showed.
In the full year CFCL group’s interest income was up 3.6 percent to 5.7 billion rupees, while interest expenses fell 4.8 percent to three billion rupees, resulting in a net interest margin of 2.66 billion rupees, up 15.4 percent.
Operating income dipped 4.2 percent to 1.57 billion rupees, while other income which comprises revenues generated fr