IDFC Limited was incorporated in 1997. It is a Non-Banking Finance Company (NBFC) regulated by the Reserve Bank of India. It continues to hold investments in IDFC FIRST Bank and IDFC AMC. It held 39.98% in IDFC FIRST Bank and 99.96% in IDFC AMC. IDFC’s holding in IDFC FIRST Bank has further reduced to 36.60% post the QIP issue done by the Bank in April 2021.
Financial Results:
- IDFC Ltd reported Revenues for Q2FY24 of ₹37.00 Crores down from ₹49.00 Crore year on year, a fall of 24.49%.
- Total Expenses for Q2FY24 of ₹6.00 Crores up from ₹3.00 Crores year on year, a rise of 100.0%.
- Consolidated Net Profit of ₹224.00 Crores down 32.53% from ₹332.00 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹1.40, down 32.69% from ₹2.08 in the same quarter of the previous year.