IDFC rises on appointing Mahendra Shah as MD

24 Aug 2022 , 03:37 PM

The board approved the appointment of Mahendra N Shah as managing director-designate of the company with immediate effect. The term of Sunil Kakar as managing director & CEO of the company will end on 30 September 2022. Mahendra N Shah was the group company secretary & group chief compliance officer of IDFC First Bank and has been the group head – governance, compliance & secretarial and senior advisor of taxation at IDFC for more than a decade. IDFC is a financial services company in India and it advances infrastructure development in the country. The company reported a net profit of Rs 167.5 crore as against a net loss of Rs 4.01 crore in Q1 FY23 over Q1 FY22. Total income zoomed to Rs 174.75 crore in Q1 FY23 from Rs 0.95 crore in Q1 FY22. Powered by Capital Market – Live News