IDFC Q3 PAT up 27% at Rs 387 cr on higher interest income

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IDFC Q3 PAT up 27% at Rs 387 cr on higher interest income

Infrastructure Development Finance Company or IDFC’s third quarter (Oct-Dec) standalone net profit climbed more than 27% to Rs 387 crore on the back of higher interest income.

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Infrastructure Development Finance Company or IDFC's third quarter (Oct-Dec) standalone net profit climbed more than 27% year-on-year to Rs 387 crore on the back of higher interest income.

The company's Q3 consolidated net profit was up at Rs 381 crore versus Rs 321 crore, year-on-year, YoY.

Its consolidated net sales were up at Rs 1,639 crore versus Rs 1,306 crore, YoY. The net interest income (NII) or the difference between interests earned and expended rose 30% to Rs 1,527 crore for the nine months ended December 31. The Q3 NII growth (y-o-y) was not mentioned in the press release sent by the company.

The gross non-performing asset (NPA) ratio shot up from 0.19% to 0.33% sequentially. Net NPA ratio too jumped from 0.09% to 0.22% during the same time. Consequently, provisions and contingencies doubled to Rs 98 crore as against Rs 48 crore a year back.