BackIDFC net profit falls 13.23%
Total income fell 7.64% to Rs2,122.52 crore from Rs2,298 crore in the same quarter last year
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Mumbai: Infrastructure lender IDFC Ltd on Tuesday reported a 13.23% drop in its June quarter consolidated net profit to ₹ 481.74 crore from ₹ 557.31 crore in the same quarter of last year due to higher provisions and contingencies.
Total income fell 7.64% to ₹ 2,122.52 crore from ₹ 2,298 crore in the same quarter last year.
Provisions and contingencies jumped 244.65% to ₹ 203.93 crore from ₹ 59.17 crore a year ago.
Net non-performing assets (NPAs) at 0.43% of net advances were higher compared to 0.2% reported during the quarter ended June 2013.
On Monday, IDFC closed at ₹ 153.70 on the BSE, down 0.81% from its previous close, while the benchmark Sensex index fell 0.52% to close at 25,991.23 points. Markets are closed on Tuesday on account of a trading holiday.
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