IDFC Q4 net profit halves to Rs 258 cr

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Infrastructure finance company IDFC today said its net profit more than halved to Rs 257.94 crore in the fourth quarter ended March 31.

The group's consolidated net profit was Rs 525.70 crore in the January-March quarter of the 2012-13 fiscal.

Total income rose marginally to Rs 2,219.57 crore during the fourth quarter, from Rs 2,218.41 crore in the same quarter last fiscal, IDFC said in a filing to the BSE.

For the full 2013-14 fiscal, IDFC posted a 1.82 per cent drop in net profit at Rs 1,802.68 crore, from Rs 1,836.20 in 2012-13.

Total income last fiscal increased to Rs 8,789.99 crore in 2013-14, from Rs 8,148.42 crore in the previous year.

On a standalone basis, net profit more than halved to Rs 213.04 crore during the January-March quarter of 2013-14, as against Rs 451.04 crore in the year-ago period.

For the entire fiscal, standalone net profit fell 3.62 per cent to Rs 1,701.12 crore, as compared to Rs 1,764.98 crore for the year ended March 31, 2013.

The IDFC scrip closed at Rs 114.10, down 2.23 per cent, on the BSE.

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