IDFC Q4 net profit halves to Rs 258 crore

Infrastructure finance company IDFC on Friday said its net profit more than halved to Rs 257.94 crore in the fourth quarter that ended on March 31, 2014.

The group's consolidated net profit was Rs 525.70 crore in the corresponding quarter of fiscal year 2012-13.

Total income rose marginally to Rs 2,219.57 crore during the quarter, from Rs 2,218.41 crore a year ago, IDFC said in a filing to the BSE.

For the entire financial year 2013-14, IDFC posted a 1.82 per cent drop in net profit to Rs 1,802.68 crore from Rs 1,836.20 in 2012-13.

Total income last fiscal year increased to Rs. 8,789.99 crore in 2013-14, from Rs. 8,148.42 crore in the previous year.

On a standalone basis, net profit more than halved to Rs. 213.04 crore during the March quarter as against Rs. 451.04 crore in the year-ago period.

For the entire fiscal year, standalone net profit fell 3.62 per cent to Rs. 1,701.12 crore from Rs. 1,764.98 crore for the year ended March 31, 2013.

Shares in IDFC, on Friday, ended at Rs. 114.10 apiece on the BSE, down 2.23 per cent from the previous close.