 "IDFC net profit falls 43% to Rs 101 cr in Q3")
IDFC on Tuesday reported 42.5 per cent fall in consolidated net profit at Rs 101.28 crore for the third quarter of FY17.
The company had a net profit of Rs 176.18 crore in the October-December quarter of the previous financial year. “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. The company though 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, whereas the same was at Rs 11.57 crore year ago,” the company said.
IDFC 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 the BSE.