IDFC FIRST Bank has reported its performance for the June quarter on Saturday. As per the results, the company’s standalone net profit has doubled to Rs 1,075 crore from Rs 463 crore.
The lender’s net interest income (NII) climbed 21.1% YoY to Rs 5,972 crore, while operating profit increased 14% to Rs 2,553 crore. Total income also rose 13% to Rs 13,361 crore during the quarter.
On the asset quality front, the bank saw an improvement, with gross NPA declining to 1.51% from 1.61% in the previous quarter, while net NPA eased to 0.44% from 0.48%.
Meanwhile, provisions stood at Rs 1,144 crore, compared with Rs 1,659 crore in the year-ago period and Rs 869 crore in the March quarter.
