IDFC shed 2.69% at Rs 43.40 after consolidated net profit dropped 65.86% to Rs 130.45 crore on 16.71% fall in total income to Rs 2151.79 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours on Friday, 29 April 2016. IDFC said that pursuant to order of the Madras High Court dated 25 June 2015 approving the scheme of arrangement between the company and IDFC Bank and their respective shareholders and creditors and on receipt of final banking licence by IDFC Bank for commencement of banking operations, the demerger has been recorded with effect from 1 October 2015. Post transfer of the financing undertaking to IDFC Bank, IDFC is mainly an investment company, with minimal operations. Accordingly, the results for Q4 March 2016 are not comparable with results of Q4 March 2015, IDFC said.
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