 "IDFC Bank slips on weak Q4 earnings, asset quality concerns")
The bank reported 32% drop in net profit at Rs 165 crore for the fourth quarter ended March 2016 compared to Rs 242.2 crore in the previous quarter.
Gross non-performing assets increased to 6.2% at Rs 3,058 crore at end of March 2016, up from Rs 1,462 crore (3.09%) in the previous quarter ended December 2015.
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Net non-performing assets were also higher by 2.39% at Rs 1,139 crore compared with Rs 453 crore (0.98%) at end of the December 2015 quarter.
The stock opened at Rs 49.85 and touched a low of Rs 49.65 on the BSE. At 10:30am, over 3.4 million shares were traded on both the stock exchanges.
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