76% decline in IDFC standalone net profit

Mumbai, April 25: Lending major IDFC Bank on Tuesday reported a decline of 76 per cent in its standalone net profit for the fourth quarter of 2017-18.According to a BSE filing, the bank s net profit during the quarter under review declined to Rs 41.93 crore from Rs 175.95 crore reported for the corresponding period of the previous fiscal.On a financial year basis, it reported that its standalone net profit decreased to Rs 859.30 crore for the year ended March 31, 2018 from Rs 1,019.73 crore for the previous year.