IDFC First Bank Q1 profit declines by 11 pc to Rs 680 crore

New Delhi, Jul 27 (PTI) IDFC First Bank on Saturday reported an 11 per cent decline in net profit at Rs 680 crore in the April-June quarter.

The bank had posted a net profit of Rs 765 crore in the year-ago period.

Total income in the first quarter of the current fiscal rose to Rs 10,408 crore as against Rs 8,282 crore, IDFC First Bank said in a regulatory filing.

The lender's interest income also increased to Rs 8,789 crore from Rs 6,868 crore in the same quarter a year ago.

The gross Non-Performing Assets (NPAs) declined to 1.9 per cent of the gross advances by June 2024 from 2.17 per cent in the same quarter a year ago.

The net NPA too declined to 0.59 per cent as against 0.70 per cent in the same period of the previous year. PTI DP MR MR