IDFC drops after weak Q4 earnings

IDFC lost 2.72% to Rs 111 at 9:17 IST on BSE after consolidated net profit declined 50.93% to Rs 257.94 crore on 0.05% growth in total income to Rs 2219.57 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced after market hours on Friday, 25 April 2014.

Meanwhile, the S&P BSE Sensex was up 10.89 points or 0.05% at 22,698.96.

On BSE, so far 1.57 lakh shares were traded in the counter as against average daily volume of 12.88 lakh shares in the past one quarter.

The stock hit a high of Rs 112 and a low of Rs 110.55 so far during the day.

IDFC's consolidated net profit declined 1.82% to Rs 1802.68 crore on 7.87% growth in total income to Rs 8790 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

IDFC's board of directors at its meeting held on Friday, 25 April 2014, recommended dividend of Rs 2.60 per share for FY 2014.

IDFC is an integrated infrastructure finance player providing end to end infrastructure financing and project implementation services. The company also offers asset management services through IDFC Mutual Fund.

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