IDFC First Bank’s Q2 profit surged to Rs 1,045 crore, a 196.5% jump YoY, as core operating profit climbed 38.5% to Rs 2,527 crore.
Net interest income rose 21% to Rs 6,184 crore, while fee and other income grew 24.5% to Rs 2,285 crore, underscoring diversified earnings streams.
Total loan assets jumped 30.1% to Rs 346,913 crore, with FCNR(B)-backed loans contributing 22.2% growth. Deposits climbed 25.9% to Rs 348,583 crore, buoyed by Rs 34,390 crore of FCNR(B) inflows.
Asset quality sharpened: GNPA fell to 1.32% from 1.86%, NPA to 0.40% from 0.53%. Credit cost slipped to 1.01%, RoA rose to 0.93% and core RoA to 0.92%. Cost‑to‑income tightened to 70.16%.
Management flagged that FCNR(B) liquidity, cost savings and product tweaks should offset the Insurance Regulatory and Development Authority’s commission changes, while operating expenses outpaced income by 500 basis points YoY.