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Shares of IDFC Ltd today plunged over 7 per cent after the company registered a net loss of Rs 1,468.83 crore on a consolidated basis for the September quarter.
The stock dived 6.63 per cent to Rs 54.90 — its 52-week low — on BSE.
On the NSE, shares of the company tumbled 7.22 per cent to hit its one-year low of Rs 54.60.
The company had posted a net profit of Rs 421.4 crore in the same quarter last fiscal.
But IDFC’s total income increased to Rs 2,512.90 crore in the quarter under review, from Rs 2,487.46 crore in the same period a year ago, the bank said in a regulatory filing on Saturday.
On a standalone basis too, the company posted a net loss of Rs 1,411.38 crore in July-September of this fiscal as against a net profit Rs 470.15 crore a year ago.
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