IDFC Bank's Q4 net profit up 7%

IDFC Bank on Tuesday reported a rise of seven per cent in its net profit for the fourth quarter (Q4) of 2016-17. The company's net profit rose to Rs 176 crore from Rs 165.1 crore reported in the fourth quarter of 2015-16. The operating income of the bank rose by just one per cent to Rs 558.4 crore during the January-March quarter of 2016-17 from Rs 554.5 earned in the corresponding period of 2015-16.

"The financial year 2016-17 marks the first full year of operations of IDFC Bank. The Bank recorded a net profit of Rs 1,020 crore for the full year ended March 31, 2017, delivering a 25 per cent growth in net profit vs. last year (annualized)," the lender said in a statement. "The balance sheet grew y-o-y by 35 per cent. IDFC Bank ended the year with an outstanding funded and non-funded credit growth of 58 per cent, while its funded outstanding credit was up 36 per cent at Rs 66,567 crore, from Rs 48,813 crore in the previous year."

Get updates in Intraday Stocks News and more click here and have your two days Free Trial >> http://www.ripplesadvisory.com/nifty-future-.php