IDFC Bank Q1 profit rises 65%, bad loans ratio falls y/y
Bengaluru: India’s IDFC Bank reported a 65% rise in quarterly profit on Thursday, helped by higher interest income and as the bad loans ratio fell from a year earlier.
Net profit rose to Rs438 crore ($68.31 million) in its fiscal first quarter ended 30 June from Rs265 crore a year earlier, the bank said.
Gross bad loans as a percentage of total loans rose to 4.13% at end-June from 2.99% at March-end, but fell from 6.09% from June-end 2016. Reuters