IDFC Bank Q4 result, profit edges up to Rs 176 cr

IDFC Bank today posted a net profit growth of 7 percent at Rs 176 crore for the fourth quarter ended March.The corresponding figure in the previous fiscal read Rs 165.10 crore. Income during the quarter grew by a marginal 1 percent to Rs 558.40 crore, as against Rs 554.50 crore.

For the whole of 2016-17, profit came in at Rs 1,020 crore, marking completion of its first full year of operations.Operating income stood at Rs 3,030.40 crore for the fiscal ended March 2017, it said in a release.The bank had started off in October 2015. So, the year-on-year comparable figure has been annualised.

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IDFC Bank Q3 result, Profit falls 21% to Rs 191 cr

Private lender IDFC Bank  today reported a 21 percent fall in net profit at Rs 191.26 crore for the December quarter on account of rise in bad loans. 

The bank had earned a net profit of Rs 242.16 crore during the same quarter of the previous fiscal, IDFC Bank said in statement. However, total income of the bank rose to Rs 2,585.9 crore from Rs 2,007 crore in the year-ago period. 

Its portfolio quality deteriorated with gross non-performing assets (NPAs) rising to 7.03 percent of gross advances as against 3.09 percent in the same quarter of the previous fiscal. 

The bank's net non-performing assets also jumped to 2.57 percent, from the earlier 0.98 percent. As a result, provisions and contingencies other than tax of the bank rose nearly 19-fold to Rs 231.75 crore during the quarter as compared to Rs 12.29 crore in the same quarter a year ago.

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IDFC Bank Q1 Result, Profit rises 60% to Rs 264.76 crore

IDFC Bank Ltd said its fiscal first quarter profit rose 60% to Rs.264.76 crore from Rs.165.06 crore in the preceding March quarter.

The earnings can’t be compared with the previous year as IDFC Bank started operations in October.

IDFC Bank and Bandhan Bank had received in-principle approvals from the Reserve Bank of India in 2014 to start universal banks.

IDFC Bank’s total income increased 12% to Rs.2188.28 crore from the preceding quarter ended 31 March. Net interest income stood at Rs.515.2 crore for the April-June quarter, a rise of 25% from the March quarter.

Total credit grew 7% to Rs.57,470 crore as on 30 June from the preceding quarter. Deposits rose 59% to Rs.13,029 crore from the March quarter.

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IDFC Bank Q4 net falls 32% QoQ to Rs 165 cr, NPA surges

IDFC Bank reported weaker-than-estimated January-March quarter performance on Wednesday with net profit declining close to 32 percent quarter-on-quarter (QoQ) to Rs 165 crore from Rs 242 crore.  

IDFC Bank is a subsidiary of infrastructure finance company IDFC   Ltd, which started banking operations in October 2015. 

Data for year-on-year (YoY) comparison is, therefore, unavailable. Gross non-performing assets (GNPA) jumped over 300 basis points QoQ to 6.16 percent in the fourth quarter from 3.09 percent. 

Net NPA increased to 2.39 percent from 0.98 percent in the third quarter. The increase in NPA was largely on account of high exposure to infrastructure and telecom sectors with part of the old IDFC loans that came to the bank.   

Sunil Kakar, chief financial officer of the bank, however, clarified in a briefing that the surge in NPA does not impact the Profit and Loss account as these loans had already been provided for.  "We have ring-fenced our assets via provisions. 

Increase in the NPA number does not signal deterioration in the asset quality," he said, adding, overall size and volume of stressed assets has not grown. 

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IDFC Q3 Net Profit Slides 58%

IDFC Bank Ltd on Saturday registered a 58.2 per cent fall in consolidated net profit at Rs 176 crore for the fiscal third quarter that ended in December,on the back of the demerger of its financial undertaking into IDFC Bank.

The company had posted a net profit stood of Rs 421.6 crore for the corresponding quarter a year ago.

"Total income is Rs 2,172.4 crore for the quarter ended December 2015 whereas the same was Rs 2,462.1 crore for the quarter ended December 2014," it said in a filing to the BSE.

IDFC said that pursuant to the demerger, the result of the December quarter of the current fiscal year was not comparable with previous ones.

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