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IDFC First Bank has presented its quarterly results. The bank's quarterly profit has fallen by 58 percent compared to last year. At the same time, net interest income has increased by about 10 percent compared to last year. The company's results have been below market estimates. At the same time, the bank's gross NPA has improved compared to the previous quarter. The bank has announced a dividend for investors along with its results. The board has approved a dividend of Rs 0.25 per share today. The stock closed at Rs 66.15 on Friday with a decline of more than 2 percent.
How were the quarterly results?
That means the figure is 15% lower than the estimate. The bank's net interest income has increased by 9.8% compared to last year. However, even after this increase, the NII has remained 3.4% lower than the market estimate. The bank's NII has increased from Rs 4468.8 crore to Rs 4907.1 crore compared to last year. The market had estimated an NII of Rs 5080.2 crore.
How was the asset quality? The indications of the bank's asset quality have been mixed. Gross NPA has come down from 1.94% to 1.87% on a quarter-on-quarter basis. At the same time, net NPAs have increased from 0.52 percent to 0.53 percent. During this period, the total gross NPAs were Rs 4433.6 crores, which was at the level of Rs 4399 crores in the December quarter. Net NPAs were at Rs 1229.9 crores, which was at the level of Rs 1162 crores in the December quarter.
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