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BW Businessworld

IDFC Bank Second-quarter Profit Falls About 40%

Net profit fell to Rs 2.34 billion ($35.92 million) in the quarter ended Sept. 30, from 3.88 billion rupees a year earlier, the bank said

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IDFC Bank reported a 40 per cent fall in second-quarter profit on Wednesday.

Net profit fell to Rs 2.34 billion ($35.92 million) in the quarter ended Sept. 30, from 3.88 billion rupees a year earlier, the bank said.

Gross bad loans as a percentage of total loans stood at 3.92 percent at end-September, compared with 4.13 per cent in the preceding quarter and 5.96 per cent a year earlier.

(Reuters)


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