IDFC First Bank Q1 results: Net profit declines by 11% to Rs 680 cr | Company Results
The lender’s interest income also increased to Rs 8,789 cr from Rs 6,868 cr in the same quarter a year ago | Representative Picture
IDFC First Bank on Saturday reported an 11 per cent decline in net profit at Rs 680 cr in the April-June quarter.
The bank had posted a net profit of Rs 765 cr in the year-ago period.
Total income in the first quarter of the current fiscal rose to Rs 10,408 cr as against Rs 8,282 cr, IDFC First Bank said in a regulatory filing.
The lender’s interest income also increased to Rs 8,789 cr from Rs 6,868 cr in the same quarter a year ago.
The gross Non-Performing Assets (NPAs) declined to 1.9 per cent of the gross advances by June 2024 from 2.17 per cent in the same quarter a year ago.
The net NPA too declined to 0.59 per cent as against 0.70 per cent in the same period of the previous year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jul 27 2024 | 11:00 PM IST
