Earnings Review
IDFC FIRST Q1 PAT more than doubles YoY, beats Street view
This story was originally published at 20:10 IST on 25 July 2026
Register to read our real-time news.Informist, Saturday, Jul. 25, 2026
Please click here to read all liners published on this story
--IDFC First Bank Apr-Jun net profit INR 10.75 bln
--Analysts saw IDFC First Bank Apr-Jun net profit INR 6.93 bln
--IDFC First Bank Apr-Jun total income INR 133.61 bln
--IDFC First Bank Apr-Jun net profit INR 10.75 bln vs INR 4.63 bln yr ago
--IDFC First Bank Q1 total income INR 133.61 bln vs INR 118.69 bln yr ago
--IDFC First Bank Apr-Jun provisions INR 11.44 bln vs INR 16.59 bln year ago
--IDFC First Bk gross NPAs 1.51% on Jun 30 vs 1.61% qtr ago, 1.97% yr ago
--IDFC First Bk net NPAs 0.44% on Jun 30 vs 0.48% qtr ago, 0.55% yr ago
--IDFC First Bank Basel-III capital adequacy ratio 15.05% on Jun 30
--IDFC First Bank Apr-Jun net interest margin 5.96%, up 3 bps on qtr
--IDFC First Bank: CASA ratio 50.8% on Jun 30 vs 49.8% qtr ago
--IDFC FIRST Bank: Loans, advances INR 3.05 tln as on Jun 30, up 20.6% on yr
--IDFC First Bank Apr-Jun net interest income INR 59.72 bln, up 21.1% YoY
--IDFC First Bank Apr-Jun cost of funds 5.96%, down 4
--IDFC First Bank: Provision Coverage Ratio 71.48% on Jun 30 bps on qtr
--IDFC FIRST Bk: Job now is to up cost-to-income ratio
By Radhika Tiwari
MUMBAI – IDFC FIRST Bank posted a sharp jump in consolidated net profit for the June quarter despite an increase in its tax outgo, thanks to a sharp year-on-year fall in net provisions and contingencies. The net profit beat the Street's consensus estimate by a wide margin.
The mid-sized bank posted a consolidated net profit of INR 10.75 billion for the June quarter, up 132% on year and 237% on quarter. Its net profit is nearly 55% more than the consensus estimate of INR 6.93 billion. IDFC FIRST had reported a net profit of INR 4.63 billion for the year-ago quarter.
The bank's interest earnings rose sharply to INR 110.5 billion, up 15% on year. Its net provisions and contingencies were at INR 11.44 billion, down 31% on year and nearly 32% on quarter. For the trailing quarter, the bank had made provisions of INR 8.69 billion.
IDFC FIRST's tax nearly tripled on year to INR 3.33 billion. It had reported a net tax credit of INR 1.29 billion for the March quarter.
The total income of the bank rose to INR 133.61 billion, up nearly 13% on year and 10% on quarter. Its total income was INR 118.68 billion a year ago.
IDFC FIRST Bank's provisions as a percentage of average loans for the June quarter improved by 115 basis points on year to 1.53 from 2.69. On quarter, the number improved by 10 basis points to 1.53%, the bank said in a press release.
The bank's gross non-performing asset ratio for the June quarter improved to 1.51% from 1.97% in the year-ago quarter. The ratio fell by 45 bps on year and 10 bps on quarter. Its net non-performing asset ratio fell by 12 bps on year to 0.44%. On quarter, the net non-performing asset ratio improved by 4 bps. The bank's Basel-III capital adequacy ratio for the reporting quarter was 15.5%.
The mid-sized bank's net interest margin for the reporting quarter rose by 3 bps on quarter to 5.96%. On year, it was up by 25 bps from 5.71%. Its current account and savings account ratio for the quarter rose to 50.8% from 48.0% a year ago and 49.8% in the March quarter. The bank's current account savings account deposits increased to INR 1.58 trillion as of Jun. 30, up 25% on year. On quarter, the rise was 8.1%, IDFC FIRST Bank said in its release.
The bank's loans and advances rose to INR 3.05 trillion as on Jun. 30, up 20.6% on year and 5.2% on quarter. "The incremental growth was primarily driven by Mortgage, Vehicle, Corporate Loans and Consumer Loans," the lender said.
The bank's net interest income for the quarter rose to INR 59.72 billion, up a little over 21% on year. Its cost of funds fell by 4 bps on quarter to 5.96%. A year ago, the bank's cost of funds was 6.42%. Its provision coverage ratio rose to 71.48% as on Jun. 30, from 70.46% a quarter ago.
"At the core, we are building a high-quality banking institution with high governance standards," V. Vaidyanathan, managing director and chief executive officer, said in the release. "We are seeing strong business momentum. We are happy to share that our asset quality continues to improve with gross NPA (non-performing asset ratio) of 1.51% and net NPA (non-performing asset ratio) of 0.44%. Our provisions as a percentage of loans continues to come down."
Friday, shares of IDFC FIRST Bank had closed at INR 80.79 on the National Stock Exchange, up over 1% from Thursday. The bank announced its earnings Saturday. End
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
