FTIL Q1 net profit up 58% at Rs 128 cr

Tags: News
Financial Technologies (India) Ltd today posted 58 per cent jump in standalone net profit at Rs 128.24 crore for the first quarter ended June 30, 2014-15, on account of higher income.

The Jignesh Shah-led company had reported net profit of Rs 81.2 crore in the year-ago.

In a filing to the BSE, the FTIL said that total income increased to Rs 216 crore Q1, 2014-15 from Rs 169.54 crore in the same quarter of last fiscal, 2013-14.

The company has also declared first interim dividend of Rs 2 per share to be paid on September 5, the filing added.

FTIL, which offers technology solutions for financial markets, plans to exit from the exchanges business and is in the process of divesting its stake in commodity, stock and electricity bourses.

The company has been facing trouble after it was declared "unfit" to own and run any exchanges by the capital, commodity and electricity regulators following Rs 5,600 crore payment scam at its group firm NSEL.

The FTIL scrip fell by 4.86 per cent to settle at Rs 268.20 on the BSE.

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