IDFC Q4 net profit at Rs 130 crore

Infrastructure lender IDFC today reported a consolidated net profit of Rs 130.45 crore for the March quarter.
The company's net profit stood at Rs 382.21 crore in the corresponding January-March quarter of 2014-15 fiscal.
"Accordingly, the results for the quarter and year ended March 31, 2016 is not comparable with corresponding previous quarter/year," it said.
Post transfer of the financing undertaking to IDFC Bank, IDFC Limited remained mainly an investment company having minimal operations, the company said in a regulatory filing.
IDFC Bank had launched its banking operations from October 2015.
Total income in the January-March quarter of 2015-16 also declined to Rs 2,151.79 crore as against Rs 2,583.78 crore in the similar period of previous fiscal.

For the entire fiscal, IDFC group said it has posted a net loss of Rs 934.8 crore. While in the previous fiscal, the company had made a net profit of Rs 1,706.95 crore.

"Total income has decreased to Rs 9,063.81 crore for the year ended March 31, 2016, from Rs 9,722.47 crore a year ago," it said.
On a standalone basis, IDFC reported a net profit of Rs 4.8 crore for the quarter under review as against Rs 365.47 crore a year ago.
Income during the quarter was at Rs 6.05 crore compared with Rs 2,427.54 crore a year ago.

The company posted a standalone net loss of Rs 1162.14 crore in the entire fiscal, as against a profit of Rs 1,685.49 crore a year earlier.
"Total income (standalone) is Rs 4,562.8 crore for year ended March 31, 2016, where as the same was at Rs 9,212.63 crore a year ago," it said.
(REOPENS DCM96)
In a separate filing, IDFC said its Board have not
declared any dividend for 2015-16 fiscal.
"The Board of Directors of IDFC have not recommended dividend for the year ended March 31, 2016," it said.