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IDFC's Net Profit Jumps Up 117% To Rs 281 Cr In Q3

Its Capital Adequacy Ratio (CAR) remained at 15.38 per cent with a Common Equity Ratio of 14.83 per cent in December 2021.

Photo Credit : PTI

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IDFC First Bank's net benefit rose by 117 per cent to Rs 281 crore in the third quarter completed December 2021 (Q3FY22) as against Rs. 130 crore in the year-prior period.

Its Net Interest Income (NII) developed by 36 per cent on a YoY premise to arrive at Rs. 2,580 crore in Q3FY22. Also, the Net Income Margin (NIM) remained at 5.9 per cent, barring revenue pay relating to the earlier period for one telecom account.

The private money lender stated that the other income developed by 28 per cent YoY to arrive at Rs. 744 crore in Q3FY22.

The arrangements other than the charge declined by 32 per cent on the basis of Y-o-Y at Rs. 392 crore in Q3-FY22. Provision Coverage Ratio (PCR) remained at 67.16 per cent. Its Gross Non-Performing resources (GNPA) remained at 3.96 per cent and net NPA at 1.74 per cent as of the end of December 2021.

V Vaidyanathan, Managing Director and CEO, IDFC First Bank, V. Vaidyanathan said that the credit indicators, including cheque bounces, collections, recovery, vintage show that the credit execution is moving along. He added that the bank might want to work on the direction for credit costs one year from now (FY23) to 1.5 per cent of the supported assets, in the absence of lockdowns.

Its Capital Adequacy Ratio (CAR) remained at 15.38 per cent with a Common Equity Ratio of 14.83 per cent in December 2021.


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