IDFC First Bank Q1 Result Dhamaka

IDFC First Bank का Q1 रिजल्ट का धमाका (June 2023)

Image logo credit: IDFC Bank

IDFC First Bank's net profit surged 61% YoY to Rs 765 crore in Q1 FY24.

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Core operating profit increased by 45% YoY to Rs 1,427 crore in the June quarter.

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Net Interest Income (NII) jumped 36% YoY to Rs 3,745 crore in the Apr-June quarter.

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Net Interest Margin (NIM) rose to 6.33% in Q1 FY24 from 5.77% in Q1 FY23.

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Provisions increased by 55% YoY to Rs 476 crore in the quarter ended June 30, 2023.

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CASA deposits surged 27% YoY to Rs 71,765 crore in the same period.

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Gross NPA improved to 2.17% in Q1 FY24 from 3.36% in the June 2022 quarter.

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Net NPA fell to 0.7% in the quarter under review from 1.3% YoY and 0.86% sequentially.

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IDFC First Bank maintains a high CASA Ratio of 46.5%, with strong growth in retail deposits.

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