Indiabulls Securities net rises 40.77% in Mar`08 qtr

[B. KARTHICK]

Indiabulls Securities has disclosed a phenomenal jump in net profits
for the quarter ended in March 2008. During the quarter, the company
experienced a 40.77% rise in profits to Rs 534.4 million from Rs
379.60 million in the quarter ended March 2007.

Income from Operation for the quarter rose 47.39% to Rs 1,602.8
million compared with Rs 1,087.40 million in the corresponding
quarter, a year ago.

Total income rose 55.69% to Rs 1,727 million for the quarter ended
March 2008 from Rs 1,109.2 million for the same period last year.

The basic and diluted EPS after extraordinary item stood at Rs 2.10
for the quarter.

Quarterly (Rs in mn)
Mar 08 Mar 07 %Change
Income from operation 1602.8 1087.4 47.39
Net Profit 534.4 379.6 40.77
EPS 2.10 - -


Yearly Result

The company posted a net profit of Rs 2517.7 million for the year
ended Mar. 31, 2008 as compared with Rs 1373.9 million for the year
ended Mar. 31, 2007, an increase of 83.25%.

For the financial year ended March 2008, the company`s net sales
jumped 46.80% to Rs 6,207.2 million compared with Rs 4,228.3 million
for the year ended March 2007.

Total income for the year rose 44.81% to Rs 6,467.8 million compared
with Rs 4,466.1 million last year.

The basic and diluted EPS after extraordinary item stood at Rs 9.64
for the year.

Annual (Rs in mn)
Mar 08 Mar 07 %Change
Income from operation 6207.2 4228.3 46.80
Net Profit 2517.7 1373.9 83.25
EPS 9.64 - -


Announcement:

The board of directors of Indiabulls Securities, at its meeting held
on Apr. 28, 2008, has recommended a dividend of 375% or Rs 7.50 a
equity share on the face value of Rs 2 per equity share for the
financial year ended Mar. 31, 2008.