Infrastructure Development Finance Company (IDFC) has posted 25.7% growth in its consolidated net profit, which stood at Rs 272.44 crore for the first quarter of current fiscal, as compared to Rs 216.71 crore in the same quarter of last year.

The company's total income grew by 14.26% to Rs 994.61 crore for the first quarter, as against Rs 870.51 crore in the same period last year.

IDFC registered a profit of Rs 243.50 crore, up 19%, in the quarter ended June 30, 2009, as compared to Rs 204.73 crore in the same quarter last year.

Infrastructure Development Finance Company (IDFC) has announced that it is in discussions with GE Commercial Finance, the financial subsidiary of GE, to take over 35 percent equity stake in its construction equipment finance business in India.

The sources close to the company said that GE is eyeing at hiving off its construction equipment finance business into a joint venture conglomerate.

The sources further revealed that IDFC will own 35 percent equity stake in the JV company and GE Commercial Finance will be the owner of remaining 65 percent.