IDFC First Bank Q2 Results: Bank's profit fell by 73 percent, know the full details

IDFC First Bank has announced the results for the second quarter ended September 2024. The bank has said in an exchange filing that the bank's profit fell 73.3 per cent to Rs 200.7 crore in the September quarter from Rs 751.3 crore in the same quarter a year ago. A CNBC-TV18 poll had estimated a profit of Rs 644.6 crore. The bank's net interest income (NII) rose 21.2 per cent to Rs 4,787.8 crore from Rs 3,950.2 crore in the same quarter a year ago.

Asset Quality

IDFC First Bank has said that gross NPAs have come down to 1.90 per cent in the September quarter, which was at 1.92 per cent in the quarter ended June 2024. Net NPA has come down from 0.59 per cent to 0.48 per cent quarter-on-quarter. Stock Performance On Friday, the bank's stock closed down 3.64 per cent at 65.57 per cent. In the last one year, the bank's stock has seen a decline of 22.81 per cent. The 52-week high of the stock is Rs 92.45.

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