IDFC First Bank Share Falls 9% After Reporting 73% Fall

After reporting a 73 percent drop in its September quarter standalone net profit, private sector lender IDFC First Bank's shares fell more than 9% in the morning session on October 28. 

In contrast to the Rs 751 crore it recorded for the same time last year, IDFC First Bank reported a net profit of Rs 200.7 crore. In Q2FY25, the Net Interest Income (NII) climbed 21% to Rs 4,788 crore from Rs 3,950 crore in the same period last year.

IDFC First Bank shares were trading at Rs 59.79 on the NSE at 9.15 am, down 8.9 percent. According to a statement from the bank, the judicious provisioning buffer of Rs 568 crore was the main reason for the Rs 1,732 crore in provisions for Q2 FY25. The net interest income (NII) increased from Rs 3,950 crore in the second quarter of the previous year to Rs 4,788 crore.

In terms of asset quality, the bank saw progress, as gross non-performing assets (NPAs) decreased from 2.11 percent of gross loans to 1.92 percent by the end of September 2024.

IDFC First Bank Share

IDFC First Bank Share Price

IDFC First Bank

IDFC Bank Share Price

IDFC Share Price

IDFC First Share Price