IDFC gains after standalone Q2 net profit rises to Rs 498cr

Standalone Net profit was up 8% at Rs 498 crore compared with Rs 461 crore

Shares of IDFC were up over 4% at Rs 110 after the company announced higher net profit on a standalone basis for the second quarter ended September 30, 2013.

Standalone Net profit for the second quarter was up 8% at Rs 498 crore compared with Rs 461 crore in the corresponding quarter last year.

Total income from operations during the quarter increased 6% to Rs 2,066 crore from Rs 1,948 crore in the corresponding quarter last fiscal.

On a consolidated basis net profit was up 2.3% at Rs 487 crore compared with Rs 476 crore in the same quarter last year.

Total income from operations rose 5% to Rs 2,148 crore from Rs 2,039 crore in the same quarter last year.

Over 8 million shares were traded so far on the National Stock Exchange.