IDFC Bank reports 59% fall in Q1 net profit

IDFC First Bank Ltd. | Bank - Private | BFSI | BSE: 539437 | NSE: IDFCFIRSTB

31 Jul 2018 Evaluate

IDFC Bank has reported results for first quarter ended June 30, 2018.

The Bank has reported 58.51% fall in its net profit at Rs 181.55 crore for the quarter under review as compared to Rs 437.59 crore for the same quarter in the previous year. Total income of the Bank decreased by 9.81% at Rs 2,519.87 crore for Q1FY19 as compared Rs 2,793.98 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the April-June quarter of the current fiscal improved to 3.24%, as compared to 4.13% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 1.63% in Q1FY19.

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