IDFC slumps after Jan-March earnings lag estimates

MUMBAI (Reuters) - Shares in IDFC fell as much as 3.2 percent on Monday after the infrastructure lender's January-March quarter net profit halved, lagging consensus estimates.

IDFC reported March-quarter consolidated net profit of 2.58 billion rupees ($42.54 million), compared to 5.26 billion rupees last year, on the back of a jump in provisions and contingencies.

IDFC shares were down 3 percent at 9:23 a.m., compared with a 0.2 percent fall in the broader Nifty.

($1 = 60.6550 rupees)

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)