IDFC slumps after Q4 earnings lag estimates
Mumbai: Shares in IDFC 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, compared to 0.2 per cent fall in the broader Nifty.
( Source : reuters )
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