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, down from Rs 802.62 crore reported by the lender in the year-ago period.

IDFC First Bank reported interest income of Rs 8,219.21 crore for the January-March quarter, higher than Rs 6,424.35 crore reported in the same period last year. It increased by 28% compared to the same period last year.

Interest disbursed stood at Rs 3,750.34 crore for the three months ended March 31, 2024, compared to Rs 2,827.60 crore reported in the fourth quarter of fiscal 2023. It rose 32.63%.

The board approved the bank to borrow funds by issuing debt instruments up to Rs 5,000 crore.

More to come…