Market News
1 min read | Updated on January 27, 2025, 12:37 IST
SUMMARY
IDFC First Bank on Saturday reported a 53% decline in net profit at ₹339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans. On Monday, its shares plunged 7.7% each to hit a 52-week low of ₹57.45 and ₹57.46 apiece on both NSE and BSE, respectively.
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IDFC's NII increased to ₹9,343 crore in Q3 FY25 from ₹7,879 crore a year ago period. | Image: Shutterstock.
The company's stock plunged 7.7% each to hit a 52-week low of ₹57.45 and ₹57.46 apiece on both NSE and BSE, respectively.
IDFC First Bank on Saturday reported a 53% decline in net profit at ₹339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans.
The private sector lender had earned a net profit of ₹716 crore in the same quarter a year ago.
However, the total income increased to ₹11,123 crore during the quarter from ₹9,396 crore in the same period a year ago, IDFC First Bank said in a regulatory filing.
Interest income increased to ₹9,343 crore from ₹7,879 crore a year ago, it added.
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