IDFC Bank June Quarter Profit Rises 65%, Bad Loan Ratio Comes Down
IDFC Bank reported a 65 per cent rise in quarterly profit on Thursday, helped by higher interest income and as the bad loans ratio fell from a year earlier.
Net profit rose to Rs 438 crore ($68.31 million) in its fiscal first quarter ended June 30 from Rs 265 crore a year earlier, the bank said.Â
Gross bad loans as a percentage of total loans rose to 4.13 per cent at end-June from 2.99 per cent at March-end, but fell from 6.09 per cent from June-end 2016.
($1 = Rs 64.12)
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