IDFC First Bank Profit Jumps Over 165% To Rs 343 Crore In March Quarter
NDTV
IDFC First Bank posted over two-fold rise in net profit to Rs 343 crore in the March 2022 quarter compared to December 2021 quarter.
IDFC First Bank on Saturday posted over two-fold rise in net profit to Rs 343 crore in the March 2022 quarter on the back of strong core operating income and lower provisioning for bad loans.
The private sector lender had reported a net profit of Rs 128 crore in the same quarter of the previous fiscal.
The total income during the January-March quarter of 2021-22 rose to Rs 5,384.88 crore from Rs 4,811.18 crore in the same period of FY21, IDFC First Bank said in a regulatory filing.
"The net profit for Q4-FY22 grew by 168 per cent to Rs 343 crore from Rs 128 crore in Q4 FY21, driven by strong growth in core operating income and lower provisioning," the bank said.
