IDFC Q1 net profit shoots up by 65 per cent at Rs 299 crore

New Delhi: IDFC  Limited on Thursday registered a growth of over 65.2 per cent in consolidated net profit at Rs 299.40 crore for the first quarter ended June 30, 2017.

The company’s net profit in the corresponding quarter of previous fiscal stood at Rs 181.21 crore.

Total income of the company also increased by 29.5 per cent to Rs 3,058.13 crore for the reported quarter, as against earnings of Rs 2,360.58 crore in the year-ago period.

On standalone basis, the company reported a decline in net profit at Rs 1.78 crore in three-months to June in 2017 as against Rs 5.25 crore a year ago.

Income was also down at Rs 15.81 crore for the quarter under review from Rs 16.68 crore in the year-ago period.

IDFC Ltd’s (a holding company) main business is to carry out investment activities.

Net worth of the company stood at Rs 11,115 crore as on June 30, 2017 as compared to Rs 10,277 crore as on June 2016.

Shares of IDFC Ltd closed 1.20 per cent down at Rs 57.65 on BSE.