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IDFC Q4 net profit rises 3.33% to Rs 135 crore

LiveMint logoLiveMint 28-04-2017 PTI

New Delhi: IDFC Ltd on Friday reported a 3.33% rise in consolidated net profit at Rs134.80 crore for the fourth quarter ended March 2017. It had reported a net profit of Rs130.45 crore during the same quarter of the previous fiscal.

Total income rose to Rs2,577.88 crore, up 22.66%, from Rs2,101.61 crore in the year-ago period, IDFC said in a BSE filing.

Post transfer of the financing undertaking of the company to IDFC Bank, which started operations in October last year, IDFC is mainly an investment company with minimal operations.

For the full financial year, the company posted a net profit of Rs699.08 crore, as against a net loss of Rs 934.80 crore, a year earlier.

Total income in 2016-17 stood at Rs 10,467.72 crore compared to Rs 8,970.36 crore in the corresponding period a year ago. The board of directors of IDFC have recommended a dividend of Rs 0.25 per share for the financial year ended March 31, 2017. IDFC stock closed 1.06% higher at Rs 61.85 on BSE.

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