IDFC First Bank shares were in demand on Monday, with the scrip rising as much as 8.87% to hit an intraday high of Rs 88.12 per share.
At 9:18 am, IDFC First Bank shares were trading 8.75% higher at Rs 87.90 per share. By comparison, BSE Sensex was trading at 76,597, up 0.7%.
The uptick in IDFC First Bank shares came on the back of strong Q1 earnings.
ALSO READ: IDFC First Bank Q1 Results: Profit Soars Over 2X As Provisions Decline; Asset Quality Improves
The private lender'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 revenue from operations jumped 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 YoY 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.
V Vaidyanathan, MD and CEO said, “At the core, we are building a high-quality banking institution with high governance standards. We are seeing strong business momentum. We are happy to share that our asset quality continues to improve with Gross NPA of 1.51% and net NPA of 0.44%. Our provisions as a % of loans continues to come down. During this quarter we got CGFMU claim of Rs 515 crores. We created a provision of Rs. 515 crore on a prudent basis towards any possible impact of monsoon or fuel prices volatility in the rest of the year. Finally, we believe the benefits of investments we have been making in building the bank have started playing out in operating leverage improving our PAT to Rs. 1,075 crore in Q1FY27. ROA crossed 1%.”
The company has fixed Friday, Aug. 7, 2026, as the record date to determine shareholders eligible to receive the final dividend for FY26.
The final dividend, which was recommended by the board at its meeting on April 25, 2026, is subject to shareholders' approval at the upcoming Annual General Meeting (AGM).
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