IDFC FIRST Bank Q2 PAT jumps 196.5%

Hyderabad: IDFC FIRST Bank reported a 196.5 per cent year-on-year rise in net profit to Rs1,045 crore in the second quarter of FY27, marking its second consecutive quarter with profit exceeding Rs1,000 crore.

Profit after tax for the first half of FY27 stood at Rs2,120 crore, while return on assets was 0.99 per cent. Core operating profit, excluding trading gains, rose 38.5 per cent year-on-year to Rs2,527 crore in Q2.

Total deposits grew 25.9 per cent year-on-year and 11.8 per cent sequentially to Rs3,48,583 crore. Loans and advances, including credit substitutes and FCNR(B)-backed loans, increased 30.1 per cent to Rs3,46,913 crore. Excluding FCNR(B)-backed loans, growth stood at 22.2 per cent, gross of inter-bank participation certificates (IBPC).

V Vaidyanathan, MD and CEO, said:“Operating expenditure growth remained about 500 basis points below income growth for the second consecutive quarter, reflecting improved operating leverage.

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The Hans India