IDFC FY16 loss at R935 crore

The Financial Express - - MONEY & MARKETS - Fe Bureau

Mum­bai, April 29: IDFC on Fri­day re­ported a con­sol­i­dated net loss of Rs 934.8 crore for FY16, com­pared with a profit of Rs 1,706.9 crore in the pre­vi­ous year, hav­ing made a spe­cial pro­vi­sion for Rs 2,638.7 crore in the se­cond quar­ter.

The in­vest­ing non-bank­ing fi­nance com­pany (NBFC), who's lend­ing busi­ness as­sets worth over Rs 66,000 crore and li­a­bil­i­ties worth over Rs 60,000 crore, was moved to IDFC Bank post a de­merger, re­ported a con­sol­i­dated op­er­at­ing in­come of Rs 3,235 crore for the full year on the back of Rs 1,094 crore of non-in­ter­est in­come.

The com­pany also re­ported that it's in­fra de­vel­op­ment sub­sidiary IDFC IDF, which com­menced op­er­a­tions in Jan­uary, 2015, had an out­stand­ing port­fo­lio of Rs 1,202 crore at the end of FY16, while its as­set man­age­ment arm had as­sets un­der man­age­ment (AUMs) of Rs 54,487 crore.

Its al­ter nate in­vest­ment arm IDFC Al­ter­na­tives had AUMs of Rs 16,379 crore, across seven funds, at the end of the fis­cal year.

On the com­pany's fu­ture growth plans, given de­merger of the lend­ing busi­ness, Vikram Li­maye, MD & CEO, said, “There’re on­go­ing dis­cus­sions about which dif­fer­ent ar­eas in fi­nan­cial ser­vices that might be at­trac­tive to us in the long term. There are a cou­ple of ar­eas that are be­ing ac­tively eval­u­ated, but it's pre­ma­ture to dis­cuss them.”

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