IDFC FIRST Financial institution on Saturday reported 10 per cent decline in web revenue at Rs 724 crore for the fourth quarter ended March 2024 as a result of substantial bounce in provisions.
The lender had earned a web revenue of Rs 803 crore within the year-ago interval.
Whole revenue rose to Rs 9,861 crore from Rs 7,822 crore a yr in the past, IDFC FIRST Financial institution stated in a regulatory submitting.
Curiosity revenue grew to Rs 8,219 crore throughout the interval below overview, from Rs 6,424 crore within the corresponding quarter a yr in the past.
Internet Curiosity Earnings (NII) grew 24 per cent from Rs 3,597 crore in This fall FY23 to Rs 4,469 crore in This fall FY24, it stated.
Â
On the asset high quality facet, the financial institution’s gross Non-Performing Property (NPAs) lowered to 1.88 per cent of gross advances as of March 31, 2024, from 2.51 per cent by the top of March 2023.
Internet NPAs additionally got here right down to 0.60 per cent of the advances from 0.86 per cent on the finish of 2024.
Nonetheless, provisions and contingencies elevated by 50 per cent to Rs 722 crore in Q4FY24 as in contrast with Rs 482 crore a yr in the past.
The financial institution didn’t declare any dividend for FY24 and FY23.
The capital adequacy ratio of the financial institution declined to 16.11 per cent from 16.82 per cent on the finish of earlier fiscal.
First Revealed: Apr 27 2024 | 6:19 PM IST
