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Category :
Company News
Headline :
IDFC L Q4 net profit down 99.84% at Rs 2.89 cr
Date:
07/05/2024 17:50
The company reported standalone net profit of Rs 2.89 crore for the quarter ended March 31, 2024 as compared to Rs 1781.09 crore in the same period last year, registering a year-on-year decline of 99.84 per cent.
Net revenue of the company declined substantially by 99.68 per cent at Rs 5.73 crore in January-March quarter of this fiscal as against Rs 1,797.29 crore in the corresponding period last year.
During January-March quarter, operating expenses dropped by 82.28 per cent to Rs 2.18 crore from Rs 12.30 crore in year ago period.
Operating Profit slipped by 99.80 per cent to Rs 3.55 crore as against Rs 1,784.99 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 37.63 per cent in March quarter.
Interest declined by 60.00 per cent y-o-y to Rs 0.20 crore, while Taxation decreased by 86.99 per cent at Rs 0.45 crore (Mar'23 Rs 3.46 crore).
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