IDFC rose 2.29% to Rs 62.45 after the company said that Mahendra N Shah will replace Sunil Kakar as the bank's managing director with effect from 1 October 2022.
The board approved the appointment of Mahendra N Shah as managing director-designate of the company with immediate effect. The term of Sunil Kakar as managing director & CEO of the company will end on 30 September 2022.Mahendra N Shah was the group company secretary & group chief compliance officer of IDFC First Bank and has been the group head - governance, compliance & secretarial and senior advisor of taxation at IDFC for more than a decade.
IDFC is a financial services company in India and it advances infrastructure development in the country.
The company reported a net profit of Rs 167.5 crore as against a net loss of Rs 4.01 crore in Q1 FY23 over Q1 FY22. Total income zoomed to Rs 174.75 crore in Q1 FY23 from Rs 0.95 crore in Q1 FY22.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month, subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
and get complimentary access to
Smart Quarterly
₹900
3 Months
₹300/Months/month
Smart Essential
₹2,700
1 Year
₹225/Months/month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Unlimited access to all articles
30+ premium stories daily, handpicked by our editor
Complimentary Access to The New York Times
News, Games, Cooking, Audio
Wirecutter & The Athletic
Complimentary Access to Our e-Paper
Digital replica of our daily newspaper
Read, save, share any article
Curated Newsletters on Diverse Topics
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Smart Investment Tips
In-depth stock analysis & insights
The Smart Investor for wealth growth tips
Access to Extensive Historical Archives
Repository of articles and publications dating back to 1997
Ad-free Reading Experience
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Repository of articles and publications dating back to 1997