IDFC slumps after Q4 earnings lag estimates

Apr 28 2014, 10:15 IST
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IDFC Ltd shares fell as more than 3 per cent after the infrastructure lender's January-March quarter net profit halved, lagging consensus estimates. IDFC Ltd shares fell as more than 3 per cent after the infrastructure lender's January-March quarter net profit halved, lagging consensus estimates.
SummaryIDFC reported March-quarter consolidated net profit of Rs 2.58 billion.

Shares in IDFC Ltd fell as much as 3.2 per cent on Monday after the infrastructure lender's January-March quarter net profit halved, lagging consensus estimates.

IDFC reported March-quarter consolidated net profit of 2.58 billion rupees ($42.54 million), compared to 5.26 billion rupees last year, on the back of a jump in provisions and contingencies.

IDFC shares were down 3 per cent at 9:23 a.m., compared with a 0.2 per cent fall in the broader Nifty.

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