- IDFC First Bank's Q1 net profit more than doubled to Rs 1,075 crore year-on-year
- Net interest income rose 21% to Rs 5,972 crore in Q1 FY27
- Operating profit increased 14% to Rs 2,553 crore year-on-year
IDFC First Bank Ltd.'s net profit for the first quarter of financial year 2027 more than doubled year-on-year, according to an exchange filing on Saturday. The Bank posted its highest-ever quarterly profit.
The bottom-line rose from Rs 463 crore in the year-ago period to Rs 1,075 crore. Net interest income rose 21% to Rs 5,972 crore from Rs 4,933 crore.
Operating profit was up 14% to Rs 2,553 crore from Rs 2,239 crore. Provisions declined on a year-on-year basis to Rs 1,144 crore from Rs 1,659 crore, but they rose on a sequential basis from 869 crore.
Asset quality improved as gross NPA declined to 1.51% from 1.61% in the preceding quarter and Net NPA declined to 0.44% from 0.48% sequentially.
Net interest margin rose 25 bps to 5.96%. CASA deposits were up 24.6% to Rs 1.58 lakh crore. Customer deposits were up 16.6% to Rs 2.99 lakh crore. Loans and advances were up 20.6% to Rs 3.05 lakh crore.
IDFC First Bank (Q1, Standalone YoY)
- Net profit at Rs 1,075 crore versus Rs 463 crore.
- Net interest income up 21% to Rs 5,972 crore versus Rs 4,933 crore.
- Operating profit up 14% to Rs 2,553 crore versus Rs 2,239 crore.
- Provisions at Rs 1,144 crore versus Rs 1,659 crore.
- Gross NPA at 1.51% versus 1.61% (QoQ).
- Net NPA at 0.44% versus 0.48% (QoQ).
IDFC First Bank Share Price
The bank's stock ended 1.11% higher at Rs 80.7 apiece on the NSE on Friday. This compared to a 0.43% decline in the benchmark Nifty index.
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