IDFC Bank announced a substantial drop in standalone net profit for the quarter ended March 2017. During the quarter, the profit of the bank declined 76.17% to Rs 419.34 million from Rs 1,759.51 million in the same quarter previous year.
Total Income for the quarter rose marginally 4.15% to Rs 23,743.48 million, compared with Rs 22,797 million for the prior year period.
Earnings per share for the quarter stood at Rs 0.12, registering 76.47% decline over previous year period.
Shares of the bank gained Rs 0.05, or 0.10%, to trade at Rs 47.80. The total volume of shares traded was 409,530 at the BSE (1.16 p.m., Wednesday).