Bank
The net profit of IDFC First Bank declined by 58 per cent to Rs 304 crore in the last financial year (2024-25) in the January-March quarter. The bank said that its profit has decreased due to increase in provisions. The net profit of this private sector bank was Rs 724 crore in the same quarter of FY 2023-24. IDFC First Bank on Saturday said in a information to the stock market that its total income increased to Rs 11,308 crore during the quarter under review, compared to Rs 9,861 crore in the same quarter a year ago.
Interest income increased
His interest income increased to Rs 9,413 crore in the fourth quarter, compared to Rs 8,219 crore in the same quarter a year ago. On the asset quality front, the bank’s gross non-performing asset (NPA) ratio was mildly improved to 1.87 per cent, which was 1.88 per cent a year ago. Similarly, its pure NPA or poor debt declined to 0.53 percent, which was 0.60 percent in the March quarter of the previous year.
Investors will get dividend
However, except for tax, the total provision doubled to Rs 1,450 crore, which was Rs 722 crore in the same quarter a year ago. For the last financial year, the net profit of the bank declined by 48 percent to Rs 1,525 crore, which was Rs 2,957 crore in the previous year. This decline in profits was mainly due to problems in the small finance industry. The board of directors of the bank has approved a dividend of Rs 0.25 per share under the approval of shareholders in the upcoming annual general meeting.
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