Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / IDFC March quarter profit up 48% at Rs382 crore
BackBack

IDFC March quarter profit up 48% at Rs382 crore

Higher income from operations and drop in expenses helps the profit

IDFC shares ended at `167.85 on the BSE, up 1.21%, even as the 30-share benchmark Sensex fell 0.79% to close at 27,011.31 points.Premium
IDFC shares ended at `167.85 on the BSE, up 1.21%, even as the 30-share benchmark Sensex fell 0.79% to close at 27,011.31 points.

Mumbai: Infrastructure financier IDFC Ltd, which is soon to launch a new bank, on Thursday reported a 48% rise in consolidated net profit in the quarter ended March helped by higher income from operations and drop in expenses.

The net profit was 382 crore, up from 258 crore in January-March 2014.

The figures however, did not match the median estimate of 420 crore in a Bloomberg poll of 10 brokers.

Income from operations increased 17% to 2,569 crore from 2,202 crore and expenses like provisions and contingencies fell to 375 crore from 483 crore.

Net non-performing assets (NPAs) constituted 0.22% of IDFC’s net advances, lower than last year’s 0.37%.

IDFC shares ended at 167.85 on the BSE, up 1.21%, even as the 30-share benchmark Sensex fell 0.79% to close at 27,011.31 points.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 30 Apr 2015, 07:21 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie