Moreover, IDFC First Bank‘s NIM stood at 5.93 per cent compared to 5.95 per cent. Interest income rose 12.1 per cent to Rs 10,552.8 crore from Rs 9,412.94 crore, while interest expense increased 8.2 per cent to Rs 4,875.58 crore versus Rs 4,505.78 crore. Net interest income grew 15.7 per cent to Rs 5,677 crore from Rs 4,907 crore. However, pre-provision operating profit (PPOP) declined 41.6 per cent to Rs 1,059 crore from Rs 1,812 crore. The bank reported a tax refund of Rs 130 crore compared to a tax expense of Rs 57 crore earlier. Provisions fell 37.9 per cent quarter-on-quarter to Rs 869 crore from Rs 1,398 crore. Asset quality improved, with GNPA at 1.61 per cent versus 1.69 per cent and NNPA at 0.48 per cent versus 0.53 per cent.
