IDFC First Bank Q4 Results: Standalone PAT declines 10% to Rs 724 crore

IDFC First Bank today reported a net profit of Rs 724.35 crore for the quarter ended March 31 which was down from Rs 802.62 crore reported by the lender in the year ago period.

IDFC First Bank reported an interest income of Rs 8,219.21 crore in the January-March quarter which was higher from Rs 6,424.35 crore reported in the year ago period. It was up by 28% on the year-on-year basis.

Interests expended during the three-month period ended March 31, 2024 stood at 3,750.34 crore versus Rs 2,827.60 crore reported in Q4FY23. It was up by 32.63%.

The board has granted an approval to bank to borrow funds by issuance of debt Instruments up to Rs 5,000 crore.

More to come…