IDFC First Bank Q1 Profit Down 11% to Rs 680 Crore - Business News
By Rediff Money Desk, New Delhi Jul 27, 2024 22:37
IDFC First Bank reported an 11% decline in net profit to Rs 680 crore in Q1 FY24. Total income rose, while gross NPAs declined.
![IDFC First Bank Q1 Profit Down 11% to Rs 680 Crore - Business News](https://im.rediff.com/money/2023/sep/15idfc-first-bank-1.jpg)
Photograph: Courtesy: IDFC First Bank Photos/Wikimedia Commons
New Delhi, Jul 27 (PTI) IDFC First Bank on Saturday reported an 11 per cent decline in net profit at Rs 680 crore in the April-June quarter.
The bank had posted a net profit of Rs 765 crore in the year-ago period.
Total income in the first quarter of the current fiscal rose to Rs 10,408 crore as against Rs 8,282 crore, IDFC First Bank said in a regulatory filing.
The lender's interest income also increased to Rs 8,789 crore from Rs 6,868 crore 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.
The bank had posted a net profit of Rs 765 crore in the year-ago period.
Total income in the first quarter of the current fiscal rose to Rs 10,408 crore as against Rs 8,282 crore, IDFC First Bank said in a regulatory filing.
The lender's interest income also increased to Rs 8,789 crore from Rs 6,868 crore 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.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 3.03 ( -4.72)
- 257562976
- Vodafone Idea L
- 15.98 (+ 5.13)
- 59384877
- Khoobsurat
- 1.87 (+ 4.47)
- 53564105
- Srestha Finvest
- 2.41 ( -1.23)
- 34967793
- NCL Research
- 1.01 ( -1.94)
- 27741245
MORE NEWS
![Populist Handouts...](https://im.rediff.com/80-80/money/2022/jan/budget-2215.jpg)
Populist Handouts Harm Country: Goyal
Union Minister Piyush Goyal warns against populist handouts, stating they harm the...
![IDFC First Bank...](https://im.rediff.com/80-80/money/2023/sep/15idfc-first-bank-1.jpg)
IDFC First Bank Q1 Profit Down 11% to Rs 680...
IDFC First Bank reported an 11% decline in net profit to Rs 680 crore in Q1 FY24. Total...
![India's Vision...](https://im.rediff.com/80-80/money/2015/mar/24niti.jpg)
India's Vision for Viksit Bharat @ 2047: NITI...
NITI Aayog outlines key structural challenges India needs to address, including...