IDFC posts man­i­fold rise in net at ~26 cr

Business Standard - - ECONOMY & PUBLIC AFFAIRS -

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.

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