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IDFC First Q3 Results: Net Profit Falls 53% to Rs 339 Crore

IDFC First bank on Saturday reported a 53 percent decline in net profit to Rs 339 crore for the third quarter ended December 2024 on higher loan growth.

The private sector had earned a net profit of Rs 716 crore in the same quarter last year.

Net income increased to Rs 11,123 crore during the quarter from Rs 9,396 crore in the same period last year, IDFC First Bank said in a regulatory filing.

Revenue increased to Rs 9,343 crore from Rs 7,879 crore last year.

On the Asset Front, the ratio of performing assets improved to 1.94 percent from 2.04 percent last year.

Similarly, Net NPAS, or bad loans, fell to 0.52 percent from 0.68 percent at the end of the previous third quarter.

However, total provision, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter last year.

The Provision for Nonperforming Loans ratio was 78.2 percent as of December 31, 2024.

Total slippage for Q3-FY25 was Rs 2,192 crore as against Rs 2,031 crore in Q2 FY 2025, an increase of Rs 162 crore, it said.

“Most of the increase in slippage during Q3FY 25 was from the microfinance business which accounted for Rs 143 crore out of Rs 162 crore, ie the non-microfinance business is stable. These businesses constituted about 95 percent of the bank’s total book,” she said.

The Capital AEEequy ratio also decreased by 15.65 percent from 16.73 percent at the end of the third quarter of the previous fiscal year.

The bank completed its merger with IDFC Ltd in October 2024 with Rs 618 Crore of Capital added to the amount of profit, while the amount of outstanding share has been reduced by 16.64 crore.




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