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IDFC First Bank Ltd. does not expect on-year growth in its net profit for the June quarter, but hopes to see a smart recovery after that, Managing Director and Chief Executive Officer Vaidyanathan said in a post-earnings analyst call on Saturday. Vaidyanathan said the year 2024-25 (Apr-Mar) was lost to microfinance. Owing to struggles in the microfinance business, the bank's net profit tanked nearly 60% on year in Jan-Mar, and its margins moderated for the fifth straight quarter.
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