Private sector IDFC First Bank has released its December quarter results, in which the bank’s profit has declined by 53 percent to Rs 339 crore. The bank said that this decrease is due to increase in loan provisions. The bank’s profit in the same quarter last year was Rs 716 crore.

increase in income

IDFC First Bank informed the stock exchanges that total income rose to Rs 11,123 crore during the quarter, compared to Rs 9,396 crore in the same period last year. The bank’s interest income rose to Rs 9,343 crore in the third quarter from Rs 7,879 crore a year ago.

On the asset quality front, the bank’s gross NPA ratio has improved to 1.94 per cent from 2.04 per cent last year. Net NPA or bad loans declined to 0.52 per cent from 0.68 per cent at the end of the third quarter of the last financial year.

However, total provisions excluding tax rose to Rs 1,338 crore from Rs 655 crore in the year-ago quarter. The provision coverage ratio on NPAs as of December quarter stood at 78.2 per cent.

stock decline

Shares of IDFC First Bank closed at Rs 62.27 on Friday, down 1.32 per cent from a day earlier. During trading, the stock also touched a low of Rs 61.65. The stock had a high of Rs 86.08 in April 2024, while it fell to a low of Rs 59 on January 13, 2025.

shareholding pattern

As per the shareholding pattern, public shareholders hold 100 percent stake in IDFC First Bank, while promoters hold zero. Tata Large & Midcap Fund holds 11,41,62,843 shares or 1.56 per cent stake, while LIC’s stake is 2.76 per cent.