IDFC net profit falls 43% to Rs 101 crore in October -December

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Published: January 31, 2017 9:08:22 PM

IDFC Ltd today reported 42.5 per cent fall in consolidated net profit at Rs 101.28 crore for the third quarter of 2016-17 fiscal.

IDFC Bank sharesThe company had a net profit of Rs 176.18 crore in the October-December quarter of previous fiscal. (PTI)

IDFC Ltd today reported 42.5 per cent fall in consolidated net profit at Rs 101.28 crore for the third quarter of 2016-17 fiscal.

The company had a net profit of Rs 176.18 crore in the October-December quarter of previous fiscal.

“Total income has increased to Rs 2,825.13 crore for the quarter ended December 31, 2016, from Rs 2,180.57 crore for the same quarter year ago,” it said in a regulatory filing.

On standalone basis, there was a net loss of Rs 44.77 crore during the quarter. Though the company had made a net profit of Rs 3.56 crore in the December quarter of 2015-16.

“Total income is Rs 15.53 crore for the quarter ended December 31, 2016, where as the same was at Rs 11.57 crore year ago,” the company said.

IDFC Ltd said post transfer of financing undertaking to IDFC Bank, the company is now mainly an investment holding with minimal operations.

Shares of IDFC closed 2.74 per cent down at Rs 55.05 on BSE.

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