IDFC First Bank shares are currently trading at Rs 65.57. The company's shares have fallen 22% in the last year. Now the company's earnings report seems to take this decline even further. The company's net profit on a standalone basis declined 73 per cent to Rs 11,746 crore in July-September of the current financial year. The company's net profit in the same quarter of the last financial year was Rs 751 crore. IDFC First Bank said in the information provided to the stock market on Saturday that while the total income during the period under review was Rs 10,684 crore, in the same period of the last financial year it was Rs 8,786 crore.
The company's interest income increased
The bank's interest income rose to Rs 8,957 crore, up from Rs 7,356 crore in the same period of the last financial year. Net interest income (NII) rose to Rs 4,788 crore from Rs 3,950 crore in the second quarter of last year. On the asset quality front, the bank's gross non-performing assets (NPA) declined to 1.92 per cent of gross loans at the end of September 2024, from 2.11 per cent a year ago. Similarly, net NPLs or bad loans decreased from 0.68 per cent to 0.48 per cent at the end of the second quarter of the last financial year.
This bank made huge profits.
Let us tell you that ICICI Bank, the second largest private bank in the country, has reported that its profits have increased tremendously in the second quarter of the current fiscal year. The bank's profit rose 14.5 percent annually during this period. According to information provided by ICICI Bank, its net profit in the July-September quarter rose 14.5 per cent to Rs 11,746 crore. In the same quarter last year, the bank's profit was Rs 10,261 crore.
read this too
The profit was Rs 47,714 crore.
The bank informed the stock market of this on Saturday. It has been told that its total revenue rose to Rs 47,714 crore in July-September, up from Rs 40,697 crore in the same quarter of the last financial year. The bank's interest-only income increased to Rs 40,537 crore, which was Rs 34,920 crore in the same quarter of the last financial year. At the same time, the bank's net interest income rose 9.5 percent to Rs 20,048 crore. It was Rs 18,308 crore in the same quarter of the last financial year.
