IDFC First Bank’s stock dropped 6.89% to ₹60.99 on the NSE at 9:18 AM today, following disappointing Q2 FY25 results. The bank reported a 73% year-on-year decline in profit to ₹201 crore from ₹751 crore, primarily impacted by a substantial rise in provisions, which surged to ₹1,732 crore from ₹528 crore.
Despite a 21% increase in Net Interest Income (NII) to ₹4,788 crore, the bank’s asset quality showed mixed results, with Gross NPA rising slightly to 1.92% (QoQ). The higher provisions and asset quality concerns have led to investor caution, contributing to today’s decline in the stock.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
