IDFC gamingly sticks on to Dollar depreciation

Rupee Depreciation of nearly 20% over the year kep IDFC growth to $1.2 bln in Revenues even at a lax benchmark of INR 50 to the Dollar. Net Profit is INR 1.6 bln or a good NPM of 25% for the whole year. Q4 data hints at a dollar component of costs probably from Direct Capex on projects to some extent (likely minimal component and temporary increase in costs) with Q4 margin squeezed to 22%  Growth in profits is intact on year and more management commentary is expected in top half of the trading day. 

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