IDFC posts manifold rise in net at ~26 cr

IDFC on Saturday reported an 11-fold jump in net profit for the December quarter at ~26.28 crore, mainly because of tax adjustment.

The company's standalone net profit stood at ~2.40 crore in the quarter ended December 31, 2017, it said in a statement. The total income was down at ~7.87 crore in the period under review from ~13.26 crore a year ago. However, there was a tax adjustment of ~31.41 crore in favour of the company in Q3. For April-December 2018, the net profit was ~153.78 crore over ~152.65 crore for the corresponding period of the last fiscal year.