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IDFC First Bank Q1 results: PAT soars 61.3% YoY to Rs 765 crore, NII grows 36%
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IDFC First Bank Ltd reported a 61.3% year-on-year (YoY) rise in net profit for the quarter ended June to Rs 765 crore. Total income from operations grew 43.3% on year to Rs 8,282 crore.
Net interest income, the difference between interest earned and interest expended, rose 36% YoY to Rs 3,745 crore. Operating profit for the quarter, before provisions and contingencies, surged 59% YoY to Rs 1,500 crore.
Provisions and contingencies for the quarter was Rs 476 crore, compared to Rs 308 crore a year ago. Gross non-performing assets (NPA) as a percentage of the total loans was 2.17% as of June end, compared to 3.36% a year ago, and 2.51% a quarter ago.
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