Private sector lender IDFC First Bank Limited has released its financial results for the fourth quarter (Q4) ended March 31, 2024 of the fiscal year 2024 (FY24). Here are the key highlights:
- Net profit for Q4FY24 declined by 10% to ₹724 crore compared to ₹803 crore in the same period last year. The decrease in profit is attributed to a substantial rise in provisions.
- Total income rose to ₹9,861 crore in Q4 FY24 from ₹7,822 crore a year ago.
- Interest income grew to ₹8,219 crore during the January-March 2024 period, compared to ₹6,424 crore in the corresponding quarter a year ago.
- Net interest income (NII) grew by 24% to ₹4,469 crore in Q4 FY24 from ₹3,597 crore in Q4 FY23.
- Gross non-performing assets (NPAs) decreased to 1.88% of gross advances as of March 31, 2024, compared to 2.51% at the end of March 2023.
- Net NPAs dropped to 0.60% at the end of 2024 from 0.86%.
- The capital adequacy ratio of the bank declined to 16.11% from 16.82% at the end of the previous fiscal year.
IDFC First Bank Q4 FY24 Financial Results
- IDFC FIRST Bank Investor Presentation Q4 FY24
- IDFC FIRST Bank Press Release Q4 FY24
- IDFC FIRST Bank Financial Results Q4 FY24
- Concall Recording of IDFC FIRST Bank Q4 FY24 Results
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