IDFC First Bank Q4 net profit plunges 10 pc to Rs 724 crore
New Delhi, April 27 -- IDFC FIRST Bank on Saturday reported 9.83% year-on-year decline in net profit for January-March quarter (Q4) of financial year 2023-24.
The bank had posted a profit of Rs 803 crore in the corresponding quarter of the previous financial year 2022-23.
Net Interest Income (NII) of the bank grew 24% from Rs 3,597 crore in Q4 FY23 to Rs 4,469 crore in Q4 FY24.
The bank's gross NPA (non-performing asset) improved 63 basis points (bps) from 2.51% as of March 31, 2023 to 1.88% of March 31, 2024, improved by 16 bps on quarter-on-quarter (QoQ) basis.
Net NPA improved 26 bps from 0.86% as of March 31, 2023 to 0.60% of March 31, 2024, and improved by 8 bps on QoQ basis.
Total deposits (including Certificate of Deposits) of the ba...
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