IDFC shares down by 3.2 per cent

Mumbai: Shares in IDFC fell as much as 3.2 per cent on Monday after the infrastructure lender's January-March quarter net profit halved, lagging consensus estimates.

IDFC reported March-quarter consolidated net profit of 2.58 billion rupees ($42.54 million), compared to 5.26 billion rupees last year, on the back of a jump in provisions and contingencies.

IDFC shares were down 3 per cent, compared to 0.2 per cent fall in the broader Nifty.