IDFC Mcap 6000cr, Book Value 10,000cr and stake in IDFC Bank 8,500cr
On Friday, April 29, 2016 at 6:30:09 PM UTC+5:30, Maverick wrote:
-- On Friday, April 29, 2016 at 6:30:09 PM UTC+5:30, Maverick wrote:
IDFC Ltd has announced the following results for the quarter & year ended March 31, 2016:
The Audited Standalone results for the Quarter ended March 31, 2016
The Company has posted a net profit of Rs. 48.00 million for the quarter ended March 31, 2016 where as the same was at Rs. 3654.70 million for the quarter ended March 31, 2015. Total Income is Rs. 60.50 million for the quarter ended March 31, 2016 where as the same was at Rs. 24275.40 million for the quarter ended March 31, 2015.
The Audited Standalone results for the Year ended March 31, 2016
The Company has posted a net loss of Rs. (11621.40) million for the year ended March 31, 2016 where as the same was at net profit of Rs. 16854.90 million for the year ended March 31, 2015. Total Income is Rs. 45628.00 million for the year ended March 31, 2016 where as the same was at Rs. 92126.30 million for the year ended March 31, 2015.
"Pursuant to order of the Hon'ble Madras High Court dated June 25, 2015 approving the Scheme of Arrangement under Section 391-394 of the Companies Act, 1956, between the Company and IDFC Bank Limited and their respective shareholders and creditors and on receipt of final Banking Licence by IDFC Bank Limited for commencement of banking operations, the demerger has been recorded w.e.f October 1, 2015. Accordingly, assets amounting to Rs. 6623746 lakhs and liabilities amounting to
Rs. 6000290 lakhs, resulting net assets amounting to Rs. 623456 lakhs, alongwith contingent liabilities of Rs. 28563 lakhs, capital committment of Rs. 84005 lakhs and notional principal of derivative contract of Rs. 1390357 lakhs pertaining to the financing undertaking were transferred from the Company to IDFC Bank Limited and in consideration, equity shares of IDFC Bank Limited in the ratio of 1:1 have been issued to the shareholders of IDFC Limited. Post transfer of the Financing undertaking to IDFC Bank Limited, IDFC Limited is mainly an Investment Company, with minimal operations. Accordingly, the results for the quarter and year ended March 31, 2016 is not comparable with corresponding previous quarter / year."
The Consolidated Results are as follows:
The Audited Consolidated results for the Quarter ended March 31, 2016
The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 1304.50 million for the Quarter ended March 31, 2016 as compared to Rs. 3822.10 million for the Quarter ended March 31, 2015. Total Income has decreased from Rs. 25837.80 million for the Quarter ended March 31, 2015 to Rs. 21517.90 million for the Quarter ended March 31, 2016.
The Audited Consolidated results for the Year ended March 31, 2016
The Group has posted a net loss after taxes, minority interest and share of profit of associates of Rs. (9348.00) million for the year ended March 31, 2016 as compared to net profit of Rs. 17069.50 million for the year ended March 31, 2015. Total Income has decreased from Rs. 97224.70 million for the year ended March 31, 2015 to Rs. 90638.10 million for the year ended March 31, 2016.
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