IDFC Ltd's Q4FY18 consolidated net profit declines 98.8% yoy to Rs1.56cr : Misses Estimates

The company’s consolidated total income stood at Rs2,690.20cr, up 4.58% yoy and 0% qoq.

Apr 29, 2018 05:04 IST India Infoline Research Team

IDFC Ltd Q4FY18

Consolidated Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 2,690.20 4.6
Net Profit (adjusted) 1.56 [98.8]

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Buy

Reco. Price

52.5

Last updated on

28-Feb-2018

IDFC Ltd Q4FY18 consolidated revenue came at Rs2,690.1cr against Rs2,572.4cr, up 4.6% yoy. Its consolidated net profit was below estimates, declined by 98.8% yoy to Rs1.56cr as against Rs134.8cr in corresponding period last year. For FY18, the company has posted a net profit of Rs 589.65cr, a decline of 16% yoy, as against a net profit of Rs 699.09cr in FY17.
  • The board has recommended a final dividend of Rs0.75 per share of Rs10 each, that is 7.5% for FY18.
  • The board approved borrowing of funds through issuance of various instruments, including non-convertible debentures (NCDs) and commercial papers for an amount not exceeding Rs2,000cr.

Technical View:

IDFC Ltd ended at Rs. 57, up by 1.45 points or 2.61% from its previous closing of Rs. 55.55 on the BSE.
The scrip opened at Rs. 56 and touched a high and low of Rs. 57.25 and Rs. 55.25 respectively. A total of 1,28,03,588 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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