IDFC First Bank profit up 131% to ₹1,075 cr
Business
IDFC First Bank just posted a big win this quarter, with net profit more than doubling to ₹1,075 crore, up 131% from last year.
Net interest income grew by 21.1% to nearly ₹6,000 crore.
Provisions fall to ₹1,144 cr
The bank's asset quality is looking better too: bad loans (NPAs) dropped slightly and provisions fell to ₹1,144 crore.
It also received ₹514.82 crore under a government scheme for micro units.
Shares ticked up 1.3% recently but are still down 5.4% for the year.