Monday, 31 October 2016

IDFC reports standalone net profit

IDFC Ltd on Friday reported a standalone net profit of R91.07 crore for the quarter ended September, marking a 1,635% jump from the figure recorded in the June quarter.
In September 2015, it had reported a net loss of R1,411.38 crore as it demerged to form IDFC Bank, which began operations on October 1, 2015. The investing non-banking finance company moved assets worth over R66,000 crore and liabilities worth over R60,000 crore to IDFC Bank.

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