IDFC Q2 profit falls 36% to Rs181 crore
New Delhi: Infrastructure term lender IDFC Ltd on Monday reported a 35.83% decline in its consolidated profit to Rs180.80 crore for second quarter ended 30 September.
The company had posted a profit of Rs281.79 crore in July-September quarter of 2016-17. The consolidated total income of the company fell to Rs2,657.01 crore during the second quarter of 2017-18, from Rs2,704.13 crore in same period of the previous fiscal as revenues from operations fell, the company said in a regulatory filing.
However, calculated on standalone basis, the company’s net profit was up by 56.6% to Rs142.58 crore in July-September period of this fiscal against Rs91.07 crore in the year ago period.
Income (standalone) was at Rs162.14 crore during the second quarter as against Rs112.88 crore a year ago. IDFC Ltd’s main business involves investment activities. Shares of IDFC Ltd on Monday closed 2.68% down at Rs61.70 per unit on the BSE.
- Twitter, Google sued from opposite sides over white pride
- Uber CEO plans closer ties with Toyota on autonomous driving
- Rupee, bond prices fall as RBI, US Fed turn hawkish
- ‘Nonsense’ that family’s profiting from presidency, says Donald Trump Jr
- Market Live: Sensex falls 100 points, Nifty near 10350, IT shares extend gains