IDFC First Bank Q1 Results: Profit falls 11% to Rs 681 crore, NII jumps 25%

Private sector lender IDFC First Bank on Saturday reported that its June quarter standalone net profit fell 11% year-on-year (YoY) to Rs 680.65 crore.

Its net interest income (NII) during the quarter rose 25.4% to Rs 4,695 crore while interest income jumped 28% to Rs 8,789 crore.

The pre-provisioning operating profit rose 25.5% to Rs 1,882 crore as compared to Rs 1,500 crore in the corresponding quarter of the previous fiscal year. During the quarter, IDFC First Bank's GNPA came to 1.9%, a drop of 2 bps sequentially. The net NPA rose up marginally by 1 bps to 0.59% quarter-on-quarter.

More to come...