IDFC reports narrowing in net loss to Rs 342cr in Q3FY20

IDFC Ltd on Thursday reported narrowing of its consolidated net loss to Rs 342.67 crore for the quarter ended December against that of Rs 670.92 crore in the same period of the previous fiscal. Total income during the October-December quarter of 2019-20, however, rose to Rs 121.53 crore as against Rs 47.62 crore in the same period of 2018-19, IDFC Ltd said in a regulatory filing.

"The board of the company had declared interim dividend of Rs 0.65 per share on November 14, 2019. The same was paid on November 26, 2019 to shareholders on a record date as decided by the Board," it said. The board, as part of simplification of corporate structure, have approved the merger IDFC Alternatives Limited, IDFC Trustee Company Limited and IDFC Projects Limited (wholly-owned subsidiary companies) into IDFC Limited subject to regulatory approvals from various authorities, it added.

IDFC shares closed at Rs 36.70 on BSE, up 0.82 per cent from the previous close.

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