IDFC First Bank reported a 73 percent decline in its September quarter standalone net profit at Rs 200.7 crore vs Rs 751 crore reported by it in the year ago period.
The Net Interest Income (NII) increased 21 percent to Rs 4,788 crore in Q2FY25 versus Rs 3,950 crore in the year ago period.
Provisions for Q2 FY25 stood at Rs 1,732 crore, primarily on account of prudent provisioning buffer of Rs 568 crore, the bank said in a statement.
Net Interest Income (NII) improved to Rs 4,788 crore, from Rs 3,950 crore in the second quarter of the previous year. As regards asset quality, the bank witnessed improvement with gross Non-Performing Assets (NPAs) declining to 1.92 per cent of the gross loans by the end of September 2024 from 2.11 per cent a year ago.
Similarly, net NPAs or bad loans moderated to 0.48 per cent from 0.68 per cent at the end of the second quarter of the previous fiscal.
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