The bank’s gross non performing assets (NPA) ratio fell to 2.51 percent from 2.96 percent sequentially and 3.70 percent in Q4 FY22

IDFC First Bank on April 29 reported a massive 134 percent jump in standalone net profit at Rs 803 crore for the March quarter (Q4 FY23), from Rs 343 crore in the year-ago period.

Net profit jumped 32.7 percent on a quarterly basis.

Net interest income for the bank grew 35 percent year-on-year to Rs 3,597 crore from Rs 2,669 crore in Q4 FY22. And, the bank’s core operating profit grew by 61 percent YoY to Rs 1,342 crore.

“We have built a strong foundation for the bank with a diversified customer deposits and diversified loan book. We have registered our highest ever quarterly profit,” V Vaidyanathan, managing director and CEO, IDFC FIRST Bank said.