IL&FS Investment Managers Q3 profit dips 24 pc to Rs 5.21 cr

IL&FS Investment Managers, private equity arm of IL&FS group, Wednesday reported a 24 per cent decline in net profit to Rs 5.21 crore for the third quarter ended December 2018. The company, which is part of debt-ridden IL&FS group, had registered a Rs 6.84 crore net profit in the corresponding quarter of 2017-18.

The total income rose to Rs 17.7 crore during the quarter, compared with Rs 17.5 crore in the corresponding period a year ago, IL&FS Investment Managers said in a regulatory filing. The Ministry of Corporate Affairs (MCA) has initiated investigation through Serious Fraud Investigation Office (SFIO) against Infrastructure Leasing & Financial Services Ltd (IL&FS), the holding company, and its subsidiaries, it said.

As part of its investigation, SFIO has been seeking information from the company on an ongoing basis, it said.