Q1 FY21 Results: IDFC Ltd. posts net loss of Rs 26.46 crore, financials improve from previous quarter

Mumbai based IDFC Ltd. on Thursday reported net loss of Rs 26.46 crore for the period ended June 30, 2020 as against net loss of Rs 242.92 crore for the previous quarter, period ended March 31, 2020.
The company posted a total income of Rs 103.99 crore during the Q1 FY21 period ended June 30, 2020 as compared to Rs.53.54 crores during the period ended March 31, 2020. The income has fallen YoY as compared to Rs 133.04 crore during the Q1 FY20 period ended June 30, 2019.

Mumbai based IDFC Ltd. on Thursday reported a net loss of Rs 26.46 crore for the period ended June 30, 2020 as against net loss of Rs 242.92 crore for the previous quarter, period ended March 31, 2020.

The company posted a total income of Rs 103.99 crore during the Q1 FY21 period ended June 30, 2020 as compared to Rs.53.54 crores during the period ended March 31, 2020. The income has fallen YoY as compared to Rs 133.04 crore during the Q1 FY20 period ended June 30, 2019.

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Infrastructure Development Finance Company Limited (IDFC Ltd.) had posted a consolidated net profit of Rs.5.18 crores for the period ended June 30, 2019.

“IDFC FIRST Bank Limited in June 2020 raised equity capital by way of issue of equity shares on preferential basis amounting to ₹ 2,000 crore to augment their capital base. IDFC as a promoter of the Bank, invested a sum of ₹ 800 crore (to maintain 40% stake as required under RBI Guidelines of February 2013) through its wholly owned subsidiary IDFC Financial Holding Company Limited.” The company said in its BSE regulatory filing.

“On October 31, 2019 Monetary Authority of Singapore (‘MAS’) cancelled the Capital Market Services (‘CMS’) license issued to IDFC Capital (Singapore) Pvt. Ltd., Wholly Owned Subsidiary (‘WOS’) of IDFC Alternatives Limited”, the company quoted.

The finance company has reported a negative EPS of Rs 0.17 for the June 30, 2020 FY21 quarter. The EPS was Rs.0.03 for the period ended June 30, 2019.

On August 27, the share closed at Rs 28.85 on the National Stock Exchange (NSE).