A sharp jump in expenses, including towards provisions and contingencies, proved to be a drag on IDFC’s bottomline, with consolidated net profit in the third quarter declining 43 per cent to Rs 101 crore against Rs 176 crore in the year-ago period.

IDFC’s consolidated results include the numbers of IDFC, IDFC Bank, asset management company, infrastructure debt fund, and securities businesses.

While income from operations rose 30 per cent year-on-year (yoy) to Rs 2,822 crore (Rs 2,168 crore in the year-ago quarter), total expenses, including provisions & contingencies, employee benefit expenses and other expenses jumped 148 per cent to Rs 758 crore (Rs 306 crore). Finance cost rose 25 per cent to Rs 1,771 crore (Rs 1,412 crore).

As of December-end 2016, balance sheet size increased 36 per cent yoy to Rs 1,21,152 crore (Rs 89,259 crore as of December-end 2015).