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IDFC First Bank Achieves Highest Ever Quarterly Profit
25 Jul
Summary
- Net profit more than doubled, reaching Rs 1,075 crore in Q1 FY27.
- Net interest income increased 21% to Rs 5,972 crore, a significant rise.
- Asset quality improved with gross NPA down to 1.51% and net NPA at 0.44%.
IDFC First Bank has announced a record-breaking first quarter for financial year 2027, with its net profit surging to Rs 1,075 crore, more than doubling from the Rs 463 crore reported in the same period last year. This marks the highest quarterly profit in the bank's history.
The bank's financial performance was bolstered by a 21% rise in net interest income, which climbed to Rs 5,972 crore from Rs 4,933 crore a year ago. Operating profit also saw a healthy 14% increase.
Significant improvements were noted in asset quality. Gross non-performing assets (NPA) reduced to 1.51% from 1.61% in the previous quarter, while net NPA decreased to 0.44% from 0.48% sequentially.
Key financial indicators also showed positive trends, with net interest margin rising to 5.96% and customer deposits growing by 16.6% to Rs 2.99 lakh crore. Loans and advances saw a 20.6% increase, reaching Rs 3.05 lakh crore.
