IDFC First Bank | Business Upturn

IDFC First Bank share price surges over 3% after Q4 NII jumps 16% YoY to Rs 5,677 crore, net profit up 5%

Aman Shukla — Mon, 27 Apr 2026 03:48:50 +0000

Shares of IDFC First Bank moved higher by more than 3% in early trade on April 27 after the bank reported its financial results for the quarter ended March 31, 2026.

The lender posted a steady rise in core income and profit on a year-on-year basis, while provisions declined sharply, supporting overall earnings despite pressure on pre-provision operating profit.

Net Interest Income (NII), a key measure of a bank’s core earnings, increased 16% to ₹5,677 crore in Q4FY26, compared to ₹4,907 crore in the same quarter last year. The growth reflects improvement in lending activity and interest-earning assets.

However, pre-provision operating profit (PPOP) declined 42% to ₹1,059 crore from ₹1,812 crore YoY, indicating higher operating expenses during the quarter.

Net profit for the quarter rose 5% to ₹319 crore, compared to ₹304 crore in Q4FY25. The profit growth was supported by a sharp reduction in provisions, which fell 38% to ₹869 crore from ₹1,398 crore on a quarter-on-quarter basis.

On the asset quality front, gross non-performing assets (GNPA) stood at 1.61%, showing improvement from earlier levels, while net non-performing assets (NNPA) came in at 0.48% compared to 0.53% in the previous quarter.

Net Interest Margin (NIM), a key profitability metric, remained largely stable at 5.93% compared to 5.95% YoY, indicating consistent margin performance.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

IDFC First Bank Q4-FY26 PAT rises 5% to Rs 319 crore

Yash Agarwal — Sat, 25 Apr 2026 10:41:38 +0000

IDFC First Bank has reported a 5% increase in its Profit After Tax (PAT) for the fourth quarter of the fiscal year 2026, reaching ₹319 crore. The bank’s normalised PAT, excluding one-time impacts, surged by 145% year-on-year to ₹746 crore.

The financial results for the quarter and year ending March 31, 2026, were approved by the Board of Directors in a meeting held on April 25, 2026. The bank’s total customer business grew by 18.6% year-on-year to ₹5,74,731 crore, with loans and advances increasing by 20% to ₹2,90,278 crore.

The bank’s asset quality showed improvement, with Gross Non-Performing Assets (GNPA) reducing to 1.61% and Net NPA to 0.48%. The provisions as a percentage of average loans decreased to 1.63% in Q4 FY26, marking the lowest level in two years.

IDFC First Bank’s customer deposits rose by 17.3% year-on-year to ₹2,84,453 crore, while the CASA ratio stood at 49.80%. The bank’s net interest margin for the quarter was 5.93%, reflecting an 18 basis point increase quarter-on-quarter.

The bank also reported significant growth in its wealth management business, which increased by 23% year-on-year to surpass ₹57,000 crore. Additionally, the number of credit cards in force crossed the 4.5 million mark during the quarter.

Commenting on the results, V Vaidyanathan, MD and CEO of IDFC First Bank, stated that the asset quality remains stable, with the micro-finance issue being resolved. He expressed confidence in the bank’s ability to grow its deposit business in line with past trends.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Top Q4 Results Today, April 25: Axis Bank, IDFC First Bank, RBL Bank and more to announce earnings

Aman Shukla — Sat, 25 Apr 2026 04:00:35 +0000

The earnings season for the final quarter of FY26 gathers momentum on April 25, with at least 15 companies across sectors set to announce their Q4 results. These financial updates will reflect business performance during the January–March 2026 period and provide a comprehensive view of full-year FY26 trends.

Among the key names reporting today are Axis Bank, IDFC First Bank, and RBL Bank, all of which are expected to remain in focus due to their strong relevance in the banking sector. Investors will closely analyse their numbers to assess credit growth, asset quality, and margin trends.

Other major companies scheduled to declare results include UCO Bank, Automotive Stampings and Assemblies Ltd., Bansisons Tea Industries Ltd., Noble Polymers Ltd., and SBFC Finance Ltd.. The mix of companies across banking, manufacturing, and niche sectors is expected to offer a broader perspective on economic activity and demand conditions.

These Q4 results will highlight key financial metrics such as revenue growth, profitability, operating margins, and cost structures. For the banking and financial services space in particular, commentary around loan growth, deposit mobilisation, and non-performing assets will be closely tracked.

IDFC First Bank reschedules earnings call to April 25 at 5 p.m.

Yash Agarwal — Wed, 22 Apr 2026 07:01:41 +0000

IDFC First Bank has announced a rescheduling of its earnings call for the period ended March 31, 2026. The call, initially planned for an earlier date, will now take place at 5:00 p.m. Indian Standard Time (IST) on Saturday, April 25, 2026. During this call, the senior management of the bank will engage with analysts and investors to discuss the financial results.

The conference call can be accessed through universal access numbers +91 22 6280 1575 and +91 22 7115 8251. Additionally, toll-free numbers are available for participants from Singapore, the UK, Hong Kong, and the USA. The numbers are 8001012045 for Singapore, 08081011573 for the UK, 800964448 for Hong Kong, and 18667462133 for the USA.

Participants are encouraged to pre-register for the call using the provided link to ensure a smooth connection. The bank has also assured that an audio replay and transcript of the earnings call will be made available on its website in due course.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank to host earnings call on April 25, 2026 for FY26 results

Yash Agarwal — Tue, 21 Apr 2026 11:40:52 +0000

IDFC First Bank Limited has announced that it will host an earnings call with analysts and investors on Saturday, April 25, 2026, at 06:00 p.m. Indian Standard Time (IST) to discuss its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.

The earnings call follows a scheduled meeting of the bank’s Board of Directors on the same date, wherein the directors will consider and approve the financial results for the period. Senior management of the bank will participate in the call to discuss the financial performance with market participants.

Investors and analysts can access the conference call through multiple dial-in options. Universal access numbers include +91 22 6280 1575 and +91 22 7115 8251. International participants can utilise toll-free numbers for Singapore (8001012045), the United Kingdom (08081011573), Hong Kong (800964448), and the United States (18667462133). A pre-registration link has also been provided for participants who wish to register in advance.

The bank has confirmed that an audio replay and transcript of the earnings call will be made available on its website following the conclusion of the call. This announcement was disclosed by Satish Gaikwad, General Counsel and Company Secretary of IDFC First Bank, in a regulatory filing to the National Stock Exchange of India and BSE Limited.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank to exercise call option on Rs 7 crore debentures in June 2026

Business Desk — Mon, 20 Apr 2026 11:58:28 +0000

IDFC First Bank has announced its decision to exercise the call option on its 9.75% non-convertible debentures (NCDs) amounting to ₹7 crore. The bank has set the call option date for 5th June 2026, as per the terms outlined in the original term sheet.

The debentures, identified by the ISIN code INE688I08152, were originally issued on 6th June 2016. The bank has communicated the record date for this transaction as 21st May 2026, which will determine the list of eligible debenture holders entitled to the redemption.

IDFC First Bank has sent notices to the eligible debenture holders informing them of the upcoming redemption process. The bank has assured that all outstanding dues related to these debentures will be settled in full on the call option date, thereby extinguishing the company’s liability towards the holders from that date.

The exercise of the call option is in accordance with the provisions specified in the term sheet, which includes the rights and obligations related to the put/call options. Debenture holders with queries are encouraged to contact the bank through the provided communication channels.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank reports 20% YoY growth in loans and advances to Rs 2,90,362 crores

Business Desk — Fri, 03 Apr 2026 11:23:44 +0000

IDFC First Bank has reported a significant year-on-year growth of 20% in its loans and advances, reaching ₹2,90,362 crores as of March 31, 2026. This marks an increase from ₹2,41,926 crores recorded on March 31, 2025. The quarter-on-quarter growth in loans and advances was noted at 3.9%.

Customer deposits also saw a healthy rise of 17.2% year-on-year, growing from ₹2,42,543 crores as of March 31, 2025, to ₹2,84,327 crores by the end of March 2026. The quarter-on-quarter growth in customer deposits was relatively modest at 0.6%, with average customer deposits increasing by 3.0% sequentially. The bank maintained stability in new account openings during March 2026, suggesting a steady growth trajectory. IDFC First Bank anticipates further strengthening of deposit growth from the first quarter of FY27.

Despite facing several challenges, including year-end advance tax outflows, a tight liquidity environment, and geopolitical tensions in West Asia, IDFC First Bank managed to increase its customer deposits. The bank also reduced interest rates on savings accounts by 50 to 200 basis points in key segments during Q4-FY26. The bank expressed gratitude to its customers for their continued trust and confidence.

The bank’s CASA (Current Account Savings Account) ratio improved to 49.8% as of March 31, 2026, compared to 46.9% a year earlier and 51.6% as of December 31, 2025. The average CASA ratio remained stable at 50.4% for Q4-FY26, compared to 50.0% in the previous quarter.

IDFC First Bank’s average Liquidity Coverage Ratio (LCR) for Q4-FY26 was stable at 114%, indicating a strong liquidity position. Additionally, the asset quality of the Microfinance Institution (MFI) book returned to normalcy, and the asset quality in the rest of the book remained stable.

The figures provided are provisional and subject to audit by the statutory auditors of the bank. Loans and advances include credit investments in corporate bonds, PTC, and SR.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

GMR Power and Urban Infra acquires 2.37% stake in GMR Kamalanga Energy for Rs 60 crore

Kinjal — Mon, 30 Mar 2026 17:25:51 +0000

GMR Power and Urban Infra Limited has announced the acquisition of a 2.37% stake in GMR Kamalanga Energy Limited (GKEL) through its wholly owned subsidiary, GMR Energy Limited. The transaction involved the purchase of 5,09,80,769 equity shares from IDFC First Bank Limited at a negotiated consideration of ₹60 crore.

This acquisition consolidates GMR Power and Urban Infra‘s stake in GKEL to nearly 100%, enhancing the company’s strategic control over the energy entity. GKEL operates a 1050 MW coal-based power plant and reported a turnover of ₹3,017 crore for the financial year 2024-25.

The acquisition does not fall under related party transactions, as IDFC First Bank Limited is not a related party to GMR Power and Urban Infra. The transaction was completed on 30 March 2026, with the consideration settled in cash.

GMR Kamalanga Energy Limited, incorporated on 28 December 2007, is located in the Dhenkanal District of Orissa. The company has shown a consistent turnover over the past three years, with figures of ₹3,194 crore in FY 2022-23, ₹2,955 crore in FY 2023-24, and ₹3,017 crore in FY 2024-25.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank schedules virtual investor conference with Morgan Stanley

Business Desk — Fri, 13 Mar 2026 10:26:32 +0000

IDFC First Bank has announced a virtual investor conference scheduled for 18 March 2026 with Morgan Stanley. The meeting is part of the bank’s ongoing engagement with analysts and institutional investors.

The conference, titled ‘Morgan Stanley Virtual India Financials Seminar’, will be conducted online, allowing participants to discuss the bank’s strategies and performance. IDFC First Bank will utilise its Q3-FY26 investor presentation during the meeting, which is available on the company’s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank clarifies no additional liability from Chandigarh branch settlement

Business Desk — Fri, 13 Mar 2026 08:24:54 +0000

IDFC First Bank has clarified that news articles published on March 13, 2026, regarding the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST) do not represent any additional financial liability for the bank.

The bank stated that the amount referenced in the articles is already part of a settlement concluded earlier and covered in previous regulatory disclosures filed on February 21, February 22, February 24, and March 10, 2026.

According to the bank’s statement, today’s news coverage appears to relate to CREST’s own internal investigation process. However, the bank emphasised that as far as its own position is concerned, no fresh financial obligation has arisen from this matter.

The bank further noted that it has completed a full reconciliation of all relevant accounts pertaining to the Chandigarh Branch. Following this reconciliation exercise, no additional discrepancies were identified, the bank said in its disclosure to the National Stock Exchange.

IDFC First Bank cautioned that various law enforcement agencies and the bank itself may continue to take actions related to the matter, which could result in periodic news coverage. The bank requested stakeholders to view such developments as part of the ongoing legal and recovery processes associated with the case rather than as indicators of new liabilities or fresh developments in the settlement.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank pays Rs 645 crore to clients in Chandigarh branch incident, Rs 55 crore above initial estimate

Business Desk — Tue, 10 Mar 2026 03:40:12 +0000

IDFC First Bank has paid a net principal amount of ₹645 crore to clients affected by an incident at its Chandigarh branch, ₹55 crore more than the initial estimate of ₹590 crore disclosed earlier. The bank confirmed that all claims pertain to the same incident and are linked to the same branch, with no other pending claims as of 10 March 2026.

The bank has completed reconciliation of all relevant accounts at the Chandigarh branch and reported no further discrepancies. No additional claims have been received from any other entity across the country since 25 February 2026. The bank stated it will continue pursuing actions against the perpetrators to recover the dues.

Despite the incident, IDFC First Bank’s total deposit balance remained stable at ₹2,92,381 crore as of 28 February 2026, compared to ₹2,91,133 crore as of 31 December 2025. The bank characterised the matter as an isolated incident and thanked customers for their understanding.

The average Liquidity Coverage Ratio (LCR) for the ongoing quarter until 28 February 2026 stood at a comfortable 114 per cent. The bank anticipates growth in deposits and loans going forward, broadly in line with past trends.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IDFC First Bank shares surge sharply over 3% today; Details here

Aman Shukla — Thu, 26 Feb 2026 05:48:30 +0000

Shares of IDFC First Bank moved higher in Thursday’s trade, rising over 3% amid strong buying interest and elevated trading volumes. As of 11:16 AM IST, the stock touched an intraday high of ₹72.80, compared to the day’s low of ₹69.85.

The stock opened at ₹70.22, the same level as its previous close of ₹70.22, before witnessing steady accumulation during the morning session. With volumes at 5,00,50,492 shares by late morning, activity remained significantly higher than usual, indicating strong participation from market participants.

Despite the sharp intraday move, the stock continues to trade below its 52-week high of ₹87.00, while remaining well above the 52-week low of ₹52.46.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Brokerage radar, Feb 26: Waaree Energies, Premier Energies, NTPC, Ola Electric, IDFC First Bank among top stocks to watch today

Aman Shukla — Thu, 26 Feb 2026 03:41:59 +0000

Brokerage firms issued multiple stock-specific and sector notes on February 26 (IST), covering financials, automobiles, power, solar and pharma. Several companies including SBI, Mahindra & Mahindra, Waaree Energies, Poonawalla Fincorp, Ola Electric and IDFC First Bank saw rating actions or target price revisions.

Here is a detailed round-up of the latest brokerage calls and sector views.

UBS Initiates Coverage on Poonawalla Fincorp

UBS initiated coverage on Poonawalla Fincorp with a Buy rating and a target price of Rs 640 per share. The initiation brings the NBFC into focus amid broader interest in retail lending and credit growth trends.

HSBC Reiterates View on Jubilant FoodWorks

HSBC maintained its Buy rating on Jubilant FoodWorks and retained the target price at Rs 700 per share. The brokerage continues to track performance trends in the quick-service restaurant (QSR) segment.

CLSA Maintains Outperform on SBI

CLSA maintained its Outperform rating on State Bank of India (SBI) with a target price of Rs 1,275 per share.

Schaeffler India Sees Multiple Target Prices

In the auto components segment, Incred maintained an Add rating on Schaeffler India with a target price of Rs 5,028 per share. Nuvama also reiterated its Buy rating on the company, assigning a target price of Rs 4,900 per share.

MOSL Initiates Coverage on CreditAccess Grameen

Motilal Oswal Financial Services (MOSL) initiated coverage on CreditAccess Grameen with a Buy rating and set a target price of Rs 1,600 per share.

BofA on Indian Auto Sector: GST Support in Focus

Bank of America (BofA), in its sector report on Indian automobiles, stated that GST-related support is helping sustain demand momentum across segments.

Jefferies on Power Sector; NTPC and JSW Energy in Focus

Jefferies noted that power distribution companies (discoms) have reported profits after at least a decade of losses.

Macquarie Flags RBI Watchfulness on Gold Loans

Macquarie, in its financials note, said the Reserve Bank of India is expected to remain watchful regarding gold loans.

Solar Sector: US Imposes 126% Countervailing Duty

Nomura said the US has levied a 126% countervailing duty (CVD) on solar exports from India to offset government subsidy benefits. According to the brokerage, companies with US manufacturing exposure and those sourcing non-Chinese solar cells may be relatively less impacted.

Nuvama also highlighted that the US Department of Commerce announced a preliminary CVD of 126% on solar imports from India. It further set initial CVD rates ranging from 86% to 143% on imports from Indonesia and 81% on shipments from Laos.

Tractor Segment: Cycle Concerns Emerge

BofA, in its note on tractors, flagged emerging investor concerns about a potential cycle peak in FY27, particularly amid early warnings of an El Nino.

Brokerages on Mahindra & Mahindra (M&M)

Nuvama maintained its Buy rating on Mahindra & Mahindra (M&M) with a target price of Rs 4,400 per share. BofA also maintained its Buy rating but reduced the target price to Rs 4,150 per share.

Escorts Kubota Rating Update

BofA maintained its Buy rating on Escorts Kubota and cut the target price to Rs 3,600 per share, reflecting updated assumptions in the farm equipment space.

Multiple Calls on Waaree Energies and Premier Energies

Nomura maintained a Buy rating on Waaree Energies with a target price of Rs 2,709 per share and retained a Neutral rating on Premier Energies with a target price of Rs 729 per share.

Nuvama reiterated its Buy call on Waaree Energies with a target price of Rs 3,867 per share.

MOSL maintained its Buy rating on Waaree Energies with a target price of Rs 3,514 per share and also maintained a Buy rating on Premier Energies with a target price of Rs 1,000 per share.

MOSL on Laurus Labs

MOSL maintained its Buy rating on Laurus Labs with a target price of Rs 1,280 per share, keeping the pharma stock on the radar.

Downgrades: Ola Electric and IDFC First Bank

Goldman Sachs downgraded Ola Electric to Neutral and cut the target price to Rs 26 per share.

BofA downgraded IDFC First Bank to Neutral and reduced its target price to Rs 75 per share.

Top Q3 results today, January 31: IDFC First Bank, GAIL, Delhivery, Bharat Dynamics, Sun Pharma and more to announce earnings

Aman Shukla — Sat, 31 Jan 2026 02:47:42 +0000

More than 75 listed companies are scheduled to announce their Q3FY26 financial results today, January 31, making it one of the busiest earnings days of the quarter. Key names to watch include IDFC First Bank, GAIL (India), Delhivery, Bharat Dynamics, Sun Pharmaceutical Industries, Birla Corporation, Moschip Technologies and RR Kabel.

Below is the key list of companies scheduled to declare their Q3FY26 results on January 31:

3P Land Holdings,
Abhijit Trading Company,
Advanced Enzyme Technologies,
Affle 3I,
Agio Paper & Industries,
Alfa Transformers,
Arfin India,
Asit C Mehta Financial Services,
ASM Technologies,
BCL Enterprises,
Bharat Dynamics,
Belrise Industries,
Birla Corporation,
B P Capital,
Clean Science and Technology,
Creative Castings,
Cura Technologies,
Delhivery,
Eco Recycling,
Ellenbarrie Industrial Gases,
Finolex Industries,
GAIL (India),
Gokaldas Exports,
Garware Hi-Tech Films,
IDFC First Bank,
Meghmani Organics,
Moschip Technologies,
Reliance Infrastructure,
RR Kabel,
Stove Kraft,
Sun Pharmaceutical Industries,
Vinati Organics,
ZEN Technologies,
ZF Steering Gear India

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

IDFC First Bank revises savings account interest rates: Check latest slabs effective January 9, 2025

Aman Shukla — Thu, 08 Jan 2026 04:55:20 +0000

IDFC First Bank has updated its savings account interest rates, offering progressive returns across different balance slabs. The revised rates are applicable to domestic savings accounts as well as NRE and NRO savings accounts and are effective from January 9, 2025.

As per the bank’s latest disclosure, interest on savings deposits is calculated on a progressive basis, meaning different portions of the account balance earn interest at different rates. The interest earned is credited monthly to the customer’s savings account, providing regular income visibility.

Latest IDFC First Bank Savings Account Interest Rates

For balances of up to ₹1 lakh, the bank offers an interest rate of 3.00% p.a. Deposits above ₹1 lakh and up to ₹10 lakh earn a higher interest rate of 5.00% p.a.

Savings account balances exceeding ₹10 lakh and up to ₹10 crore attract the highest rate in the structure at 6.50% p.a. For balances above ₹10 crore and up to ₹25 crore, the applicable interest rate is 6.00% p.a.

Further, deposits above ₹25 crore and up to ₹100 crore earn 5.00% p.a., while balances exceeding ₹100 crore are eligible for an interest rate of 4.00% p.a.

Top stocks to watch on August 11: Tata Motors, Dr. Reddy’s Laboratories, IDFC First Bank, Zydus and more

Aman Shukla — Mon, 11 Aug 2025 02:49:59 +0000

Several companies are in focus today, Monday, August 11, following notable earnings reports, regulatory approvals, and other corporate developments.

Stocks To Watch Today

Oil Marketing Companies (OMCs): The government has approved ₹30,000 crore as compensation for LPG under-recoveries.

Dr. Reddy’s Laboratories (DRL): The US FDA has issued an Establishment Inspection Report (EIR) for its CTO-5 manufacturing unit in Telangana, classifying it as “Voluntary Action Indicated” (VAI).

DOMS Industries: Q1 revenue rose 26% year-on-year (YoY), while EBITDA increased 14% YoY.

Lemon Tree Hotels: Average room rate increased 10% YoY, with EBITDA margin at 44.5% compared to 43% last year.

Power Mech Projects: EBITDA rose 49% YoY, margin improved to 13.2% from 11.3% a year ago.

Entero Healthcare: EBITDA increased 63% YoY, margin at 3.5% compared to 2.8% last year.

DCW Ltd: EBITDA grew 18.4% YoY, margin improved to 11.4% from 9% last year.

IDFC First Bank: Platinum Invictus B 2025 RSC received RBI approval for its proposed investment in the bank.

Brigade Enterprises: Launched ‘Brigade Cherry Blossom’ project in East Bengaluru, with revenue potential of ₹225 crore.

Shilpa Medicare: Received CDSCO approval for NorUDCA tablets, used in treatment of non-alcoholic fatty liver disease.

Zydus Lifesciences: Received final US FDA approval for Prucalopride tablets.

BEML: Secured its first overseas contract from Malaysia worth $1 million.

NIBE Ltd: Won export order from Israel for ship-mounted universal rocket launching systems.

ICICI Bank: Increased minimum balance requirement for new accounts effective August 1.

Tata Motors: Reported mixed Q1 results against muted estimates; volumes declined across categories.

Siemens: Q3FY25 EBITDA margin came in lower than estimates, net profit 7% below expectations.

Manappuram Finance: Q1 results below estimates; calculated NIM fell 80 bps quarter-on-quarter.

Home First Finance: Range Clove likely to sell its entire 10.3% equity stake via block deals at a 0-5% discount to CMP.

Voltas: Q1 results below estimates; margin declined to 4.5% from 8.6% YoY.

Ceigall India: EBITDA fell 24% YoY, margin down to 13% from 17.4%.

Dhampur Sugar: EBITDA declined 16.5% YoY, margin at 3% versus 4% last year.

Shipping Corporation of India: EBITDA fell 4% YoY, revenue down 13%.

Puravankara: Reported a net loss compared to profit last year; revenue fell 20% YoY.

TVS Supply Chain Solutions: EBITDA declined 2.2% YoY, margin at 6.83% versus 7.12%.

Suprajit Engineering: Margin fell to 9.47% from 11.74% last year; EBITDA declined 5.3% YoY.

Q1 Results Today, July 26: Kotak Mahindra Bank, IDFC First Bank, Whirlpool of India, ZEN Technologies and more to announce earnings

Aman Shukla — Sat, 26 Jul 2025 04:05:15 +0000

At least 37 companies are set to announce their Q1 FY26 earnings today, Saturday, July 26, 2025. Among the key names to watch are Kotak Mahindra Bank, IDFC First Bank, Whirlpool of India, and ZEN Technologies — all expected to provide market-moving updates.

These quarterly financial results come at a crucial time for the Indian markets, with investors keeping a close eye on performance across banking, consumer durables, and tech-focused sectors.

Apart from the major players, several mid-cap and small-cap firms are also scheduled to release their Q1 earnings, which include Balkrishna Industries, Affle 3I, Rainbow Children’s Medicare, and Jain Irrigation Systems.

Here is the complete list of companies declaring their results today, July 26:

3P Land Holdings Ltd
Adarsh Plant Protect Ltd
Affle 3I Ltd
Archidply Industries Ltd
AYM Syntex Ltd
Balkrishna Industries Ltd
Chembond Chemicals Ltd
Chambal Breweries & Distilleries Ltd
CIL Securities Ltd
Coral Newsprints Ltd
Creative Castings Ltd
Dolphin Medical Services Ltd
Gagan Gases Ltd
Howard Hotels Ltd
IDFC First Bank Ltd
Jagsonpal Pharmaceuticals Ltd
Jayant Agro Organics Ltd
Jain Irrigation Systems Ltd_DVR
Jain Irrigation Systems Ltd
Kotak Mahindra Bank Ltd
Lodha Developers Ltd
Medinova Diagnostic Services Ltd
Moneyboxx Finance Ltd
Premier Energies Ltd
Rainbow Children’s Medicare Ltd
Ras Resorts & Apart Hotels Ltd
Regency Fincorp Ltd
Relic Technologies Ltd
Rishab Special Yarns Ltd
SBFC Finance Ltd
SKP Securities Ltd
SMC Global Securities Ltd
Stratmont Industries Ltd
TCC Concept Ltd
Vandan Foods Ltd
Whirlpool of India Ltd
ZEN Technologies Ltd

Disclaimer: This article is for informational purposes only. It is not intended to be investment advice or a recommendation to buy or sell any stock. Readers are advised to consult their financial advisor before making any investment decisions.

IDFC First Bank shares drop over 3% after Q4 misses estimates

Aman Shukla — Mon, 28 Apr 2025 03:56:10 +0000

IDFC First Bank shares dropped over 3% in early trading on Monday following the announcement of weaker-than-expected results for the March 2025 quarter. By 9:23 AM, the stock was down 3.07%, trading at ₹64.05.

The lender reported a net profit of ₹304.1 crore for the quarter, falling short of CNBC-TV18’s analyst estimate of ₹359.6 crore. The profit also represented a sharp 58% decline compared to ₹724.3 crore recorded in the same quarter a year earlier.

Net Interest Income (NII) came in at ₹4,907.1 crore, missing the projected ₹5,080.2 crore but reflecting a 9.8% increase year-on-year from ₹4,468.9 crore.

The bank’s asset quality showed mixed signals. Gross Non-Performing Assets (GNPAs) rose slightly to ₹4,433.6 crore from ₹4,399.3 crore in the previous quarter. Despite this, the gross NPA ratio improved marginally to 1.87% from 1.94%. Meanwhile, Net NPAs stood at ₹1,229.9 crore, with the net NPA ratio holding steady at 0.53%, compared to 0.52% in the prior quarter.

IDFC FIRST Bank Q4 FY25 Results: NII jumps 9.8% YoY to Rs 4,907 crore, net profit down to Rs 304 crore

Aman Shukla — Sat, 26 Apr 2025 11:23:45 +0000

IDFC FIRST Bank announced its financial results for the quarter ended March 31, 2025. The Bank’s Net Interest Income (NII) rose 9.8% year-on-year to ₹4,907 crore in Q4 FY25, compared to ₹4,469 crore in Q4 FY24. However, net profit for the quarter declined to ₹304 crore from ₹724 crore a year ago. For the full year FY25, net profit stood at ₹1,525 crore, down 48.4% year-on-year.

Customer deposits increased by 25.2% year-on-year to ₹2,42,543 crore. Retail deposits grew by 26.4% year-on-year to ₹1,91,268 crore and formed 79% of total customer deposits. CASA deposits rose 24.8% year-on-year to ₹1,18,237 crore, with the CASA ratio at 46.9% as of March 31, 2025.

The Bank’s funded assets (loans and advances) grew by 20.4% year-on-year to ₹2,41,926 crore. The Retail, Rural, and MSME loan book grew 18.6% year-on-year to ₹1,97,568 crore. The microfinance portfolio declined by 28.3% year-on-year, reducing its share in the loan book from 6.6% to 4.0%. The legacy infrastructure loan book also shrank 17% year-on-year to ₹2,348 crore, now constituting less than 1% of funded assets.

On asset quality, gross NPA stood at 1.87% as of March 31, 2025, improving by 7 basis points sequentially. Net NPA was at 0.53%, marginally higher by 1 basis point compared to December 31, 2024. Excluding the microfinance portfolio, gross NPA in the Retail, Rural, and MSME book improved to 1.40%, while net NPA remained stable at 0.56%.

Gross slippages for Q4 FY25 were ₹2,175 crore, slightly lower compared to ₹2,192 crore in Q3 FY25. Within this, microfinance-related gross slippages increased to ₹572 crore in Q4 FY25. Excluding microfinance, slippages improved by ₹152 crore quarter-on-quarter.

Provisions for FY25 totalled ₹5,515 crore (2.46% of the loan book), driven primarily by higher delinquencies in microfinance. Excluding microfinance and one toll account, credit cost stood at 1.76% for FY25. The bank maintained a provision coverage ratio of 72.3% as of March 31, 2025.

Net Interest Margin (NIM) on AUM declined by 9 basis points sequentially to 5.95% in Q4 FY25, largely due to the shrinking microfinance portfolio. For FY25, the NIM was 6.09%.

Fee and other income grew 5.7% year-on-year to ₹1,702 crore in Q4 FY25. Core operating income rose by 8.7% to ₹6,609 crore during the quarter. Operating expenses increased by 12.2% year-on-year to ₹4,991 crore. Core operating profit (excluding trading gains) was ₹1,618 crore in Q4 FY25, slightly lower compared to ₹1,632 crore in Q4 FY24. Including trading gains, operating profit rose 8.9% year-on-year in Q4 FY25.

The Board approved raising approximately ₹7,500 crore through the issuance of Compulsorily Convertible Preference Shares (CCPS) to affiliates of Warburg Pincus LLC and Abu Dhabi Investment Authority (ADIA), subject to shareholder and regulatory approvals. Post-conversion and proposed dividend of ₹0.25 per share, the CRAR is expected to stand at 18.20% and Tier-I at 15.89%.

Q4 results today: IDFC First Bank, India Cements, Mangalore Refinery, Vakrangee and others to announce earnings

Aman Shukla — Sat, 26 Apr 2025 03:20:37 +0000

The fourth quarter earnings season for FY25 continues to gain momentum as several Indian companies are scheduled to release their financial results on April 26, 2025. Investors, analysts, and market participants will be closely monitoring the numbers to gauge the financial health and performance trajectory of these firms.

Below is the list of companies expected to report their Q4FY25 results today:

Companies Releasing Q4FY25 Results – April 26, 2025

ASALCBR (Associated Alcohols & Breweries Ltd)
AVANTEL (Avantel Ltd)
BEPL (Bhansali Engineering Polymers Ltd)
IDFCFIRSTB (IDFC First Bank Ltd)
INDIACEM (The India Cements Ltd)
MANORAMA (Manorama Industries Ltd)
MRPL (Mangalore Refinery and Petrochemicals Ltd)
SBFC (SBFC Finance Ltd)
UGROCAP (UGRO Capital Ltd)
VAKRANGEE (Vakrangee Ltd)

Disclaimer: The above views are based on publicly available information and announcements. They do not constitute investment advice. Please make any and every investment decision after consulting your financial advisor.

IDFC First Bank Rs 7,500 Crore Fundraise: To allot compulsorily convertible preference shares at Rs 60 per share

Aman Shukla — Thu, 17 Apr 2025 03:36:43 +0000

IDFC First Bank has announced a ₹7,500 crore capital raise through a preferential allotment of compulsorily convertible cumulative preference shares (CCPS) at ₹60 per share. The fundraise will be executed with two investors: Currant Sea Investments B.V., an affiliate company of Warburg Pincus and Platinum Invictus B 2025 RSC Limited. The decision was approved by the bank’s board on April 17, 2025.

The allotment will involve issuing up to 124.99 crore CCPS of ₹10 face value each, carrying a cumulative coupon of 8%. Currant Sea Investments will subscribe to approximately 81.27 crore shares worth ₹4,876 crore, while Platinum Invictus will take around 43.72 crore shares amounting to ₹2,623 crore. Upon conversion, each CCPS will convert into one equity share of the bank. The conversion will occur at the investor’s discretion or automatically upon meeting specific market conditions, within a maximum period of 18 months from the date of allotment.

The move also includes reclassification of the bank’s authorised share capital and an amendment to its Memorandum of Association. Additionally, the Articles of Association will be modified to allow Currant Sea Investments to nominate one non-retiring non-executive director to the board. The allotment and related changes are subject to shareholder and regulatory approvals, including from the Reserve Bank of India and the Competition Commission of India.

IDFC First Bank clarified that the investors are not related parties and there are no promoter holdings, with 100% of the bank held by public shareholders. The bank has issued a postal ballot notice to seek shareholder approval for the proposed changes.

IDFC First Bank to raise Rs 7,500 crore from two investors

Aman Shukla — Thu, 17 Apr 2025 03:32:59 +0000

IDFC FIRST Bank has announced that its Board of Directors, in a meeting held on April 17, 2025, approved a significant capital raise of approximately ₹7,500 crore through preferential allotment of compulsorily convertible cumulative preference shares (CCPS). The fundraise involves investments from two global entities—Currant Sea Investments B.V., an affiliate company of Warburg Pincus and Platinum Invictus B 2025 RSC Limited.

In a move aligned with its growth strategy, the Bank will issue a total of 124,98,80,388 CCPS at ₹60 per share, which includes a face value of ₹10 and a premium of ₹50. Currant Sea Investments B.V. will subscribe to 81,26,94,722 CCPS amounting to approximately ₹4,876 crore, while Platinum Invictus B 2025 RSC Limited will invest in 43,71,85,666 CCPS for a consideration of around ₹2,623 crore.

The issued CCPS are fully paid-up, carry a cumulative dividend of 8%, and are mandatorily convertible into equity shares on a one-to-one basis. Conversion will take place either at the discretion of the investor or automatically, once the average volume-weighted share price over 45 trading days equals or exceeds the subscription price. However, the conversion will be completed no later than five business days before the expiry of 18 months from the allotment date.

The preferential issue is in compliance with the Companies Act, 2013, the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable regulatory provisions. Final execution is subject to shareholder approval and clearances from regulatory bodies including the Reserve Bank of India and the Competition Commission of India.

To facilitate this capital raise, IDFC FIRST Bank’s Board has also approved the reclassification of its authorised share capital. The Bank’s authorised capital will now comprise 12.7 billion equity shares of ₹10 each and 1.3 billion preference shares of ₹10 each, maintaining the aggregate value at ₹14,000 crore. This change requires an amendment to the capital clause in the Bank’s Memorandum of Association, subject to shareholder and regulatory approvals.

As part of the terms agreed with Currant Sea Investments B.V., the Bank has proposed an amendment to its Articles of Association. This amendment will allow the investor (or its assignees) to nominate one non-retiring non-executive director to the Board, further strengthening the governance framework and strategic alignment between the investor and the Bank.

In line with regulatory requirements, the Bank has approved the draft notice for a postal ballot to seek shareholder approval on key aspects of the transaction. These include the reclassification of authorised share capital, the issuance of CCPS on a preferential basis, and the proposed amendment to the Articles of Association.

IDFC First Bank Q3 Results: Jefferies maintains buy, cuts FY26-27 estimates as MFI drags performance

Markets Desk — Mon, 27 Jan 2025 02:28:37 +0000

Jefferies reiterated its buy rating on IDFC First Bank share price with a target of Rs 73, despite challenges in Q3 FY25. The bank reported a net profit of Rs 339.4 crore, down 52.6% year-on-year (YoY) from Rs 715.7 crore, but up 69.13% sequentially from Rs 200.7 crore in Q2 FY25. The profit miss was attributed to slower topline growth and rising credit costs, with microfinance (MFI) operations acting as a significant drag on earnings.

Net interest income (NII) rose 14.4% YoY to Rs 4902.1 crore from Rs 4286.6 crore and increased 2.4% quarter-on-quarter (QoQ). Other income grew by 17.4% YoY to Rs 1779.9 crore, a sequential rise of 3%. However, operating profits were Rs 1758.9 crore, marking a 12.6% YoY increase but a 10.34% sequential decline. Provisions stood at Rs 1337.9 crore, up a staggering 104.3% YoY, though they fell 22.75% QoQ, reflecting pressure in the MFI portfolio.

Jefferies noted that MFI continues to weigh on profitability, with pain likely to persist for 2-3 more quarters. However, other segments, including retail and corporate, remain stable with sound asset quality, providing some reassurance. Management’s focus on operational leverage amid weaker topline growth was highlighted as a positive, but the brokerage cut its FY26-27 earnings estimates by 8-10%, citing the near-term challenges in MFI.

IDFC First Bank Q3 Results: Microfinance portfolio hurts earnings, slippages rise and profit declines over 50% YoY

Markets Desk — Sat, 25 Jan 2025 10:46:17 +0000

IDFC First Bank has reported a net profit of Rs 339 crore in Q3 FY25, a significant decline of 53% compared to Rs 716 crore in the same period last year. However, on a sequential basis, the net profit showed a robust recovery, rising 69% from Rs 201 crore in Q2 FY25. The bank’s Q3FY25 performance was impacted primarily by increased provisions for its microfinance portfolio, driven by heightened slippages in the sector.

The bank’s net interest income (NII), a key indicator of core profitability, grew by 14% year-on-year to Rs 4,902 crore in Q3 FY25, up from Rs 4,287 crore in Q3 FY24. The net interest margin (NIM), however, contracted slightly to 6.04% in Q3 FY25 from 6.18% in the previous quarter, reflecting the challenges in the microfinance business and a higher contribution from wholesale banking.

Deposits showcased a strong performance, growing 28.8% year-on-year to Rs 2,27,316 crore as of December 31, 2024, compared to Rs 1,76,481 crore in the previous year. Retail deposits also rose sharply by 29.6%, contributing to a healthy CASA ratio of 47.7%. Advances grew by 22% year-on-year, reaching Rs 2,31,074 crore, driven by robust growth in the retail and corporate loan portfolios.

The asset quality of the bank displayed a mixed trend. The gross non-performing assets (GNPA) ratio improved to 1.94% as of December 31, 2024, compared to 2.04% a year ago. The net non-performing assets (NNPA) ratio also improved to 0.52% from 0.68% during the same period. Sequentially, however, both gross and net NPA ratios showed slight increases, as GNPAs rose from 1.92% and NNPAs from 0.48% in the previous quarter, reflecting stress in the microfinance segment.

Provisions surged 104% year-on-year to Rs 1,337 crore in Q3 FY25, compared to Rs 654 crore in Q3 FY24. The rise in provisions was primarily attributed to the microfinance portfolio, which witnessed increased slippages during the quarter. However, the bank’s non-microfinance book remained stable, contributing positively to its overall performance.

The management highlighted that the challenges in the microfinance sector are transitional and are expected to stabilize in the coming quarters. V Vaidyanathan, Managing Director and CEO, stated, “The bank continues to perform well on its broader metrics, with strong growth in loans and deposits. The challenges in the microfinance segment are being closely monitored, and we expect improvement over the next few quarters.”

The bank’s focus on expanding its retail presence, improving operational efficiencies, and leveraging technology continues to underpin its strategy. Despite the temporary challenges in its microfinance segment, the overall business fundamentals remain robust, positioning the bank for sustainable growth in the long term.

IDFC First Bank market cap declines by Rs 943 crore – Know More

Aditya Bhagchandani — Thu, 21 Nov 2024 06:22:16 +0000

IDFC First Bank saw its stock decline by 2.00%, closing at Rs 63.33 from the previous close of Rs 64.62. This drop resulted in a market capitalization loss of Rs 943 crore, bringing the bank’s total market cap to Rs 46,351.35 crore.

Key Trading Highlights:

Previous Close: Rs 64.62
Closing Price: Rs 63.33
Market Cap Loss: Rs 943 crore
Current Market Cap: Rs 46,351.35 crore

Price and Volume Details:

Opening Price: Rs 64.60
Intraday High: Rs 64.60
Intraday Low: Rs 62.40
Volume Traded: 169.15 lakh shares
Turnover: Rs 106.84 crore

52-Week Performance:

52-Week High: Rs 92.45 (December 19, 2023)
52-Week Low: Rs 59.30 (October 28, 2024)

The decline in IDFC First Bank’s stock is part of a broader trend affecting the private banking sector amid market volatility.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or platform is not liable for any losses arising from the use of this information.

IDFC First Bank’s market cap rises by Rs 1,497.52 crore – Know More

Aditya Bhagchandani — Mon, 18 Nov 2024 06:36:32 +0000

Shares of IDFC First Bank Limited surged by 3.23% today, closing at ₹65.46, up from the previous close of ₹63.41. This increase in share price pushed the company’s market capitalization up by Rs 1,497.52 crore, reaching Rs 47,910.30 crore compared to the prior value of Rs 46,412.78 crore.

Additional Trading and Price Information

Traded Volume: 184.34 lakh shares
Traded Value: ₹118.71 crore
52-Week High: ₹92.45 (19-Dec-2023)
52-Week Low: ₹59.30 (28-Oct-2024)
Index: NIFTY BANK
Basic Industry: Private Sector Bank

IDFC First Bank showed robust trading activity, signaling positive investor sentiment in today’s market.

IDFC First Bank to issue shares worth Rs 3,200 Crore via preferential issue

Aditya Bhagchandani — Thu, 30 May 2024 10:41:26 +0000

IDFC First Bank announced on May 30 that its board has approved the issuance of shares worth Rs 3,200 crore on a preferential basis. These shares will be priced at Rs 80.63 each.

The shares will be allocated to several major financial institutions, including LIC, HDFC Life, AB Sun Life, Bajaj Allianz, ICICI Lombard, and SBI General.

The board has also decided to conduct a postal ballot to seek approval from shareholders for this issuance.

Shares of IDFC First Bank closed 1.23% higher at Rs 78.10 on the NSE.

IDFC First Bank shareholders approve its merger with IDFC Ltd

Adnan Nasir — Sat, 18 May 2024 07:35:49 +0000

IDFC First Bank shareholders have approved the scheme or merging IDFC Limited with the company.

The National Company Law Tribunal (NCLT) convened a meeting on May 17 to consider and approve the composite scheme of amalgamation for IDFC First Bank. The meeting focused on the amalgamation of IDFC Financial Holding Company into and with IDFC Limited and IDFC Limited into and with the IDFC First Bank.

The majority of equity shareholders, which passed the resolution approving the Scheme, represented more than three fourth in value of the equity shareholders of the company, said IDFC First in a regulatory filing.

The amalgamation scheme has also been the recipient of 99.99% of the Non-Convertible Debenture (NCD) Holders representing more than three- fourth in value voting in favour through remote e- voting and e- voting during, it added.

The Reserve Bank of India, in December 2023, had approved the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank.

IDFC First Bank shares fall 3% after Warburg Pincus affiliate exits through block deal of Rs 1386 crore

Aditya Bhagchandani — Thu, 28 Mar 2024 04:55:23 +0000

Shares of IDFC First Bank fell 3 percent in the opening trade on March 28 after a block deal valued at Rs 1,386 crore took place on the exchanges.

Approximately 18.3 crore shares, representing a 2.6 percent stake in IDFC First Bank, changed hands in the transaction.

CNBC-TV18 reported on March 27 that Warburg Pincus affiliate Cloverdell Investment was planning to exit the lender.

Cloverdell Investment was looking to unload its entire 2.25 percent stake, or 15.9 crore shares, of the lender to fetch at least Rs 1,191.40 crore, the CNBC-TV18 report cited sources as saying. Morgan Stanley likely brokered the deal, it added.

As of 10:20 am, the shares were trading at 2.19% at ₹76.10

Warburg Pincus has previously reduced its stake in IDFC First Bank on multiple occasions. In December, the private equity firm, through its affiliate Cloverdell Investment, sold a 1.3 percent stake in the bank through an open market transaction, amounting to Rs 790 crore. Earlier, in September, the Warburg Pincus affiliate offloaded a 4.2 percent stake in IDFC First Bank for a total of Rs 2,480.34 crore.

IDFC First Bank shares rally nearly 1% as RBI greenlights merger with IDFC Ltd. and IDFC Financial Holding

Aditya Bhagchandani — Tue, 19 Dec 2023 06:40:58 +0000

IDFC First Bank experienced a robust uptick of almost 1% as the Reserve Bank of India (RBI) granted approval for the proposed merger with IDFC Ltd. and IDFC Financial Holding Co.

The banking institution received a communication dated December 18 from the RBI, signaling its ‘no objection’ to the composite scheme of amalgamation. This approval is contingent upon adherence to the stipulated terms and conditions, as per an exchange filing made on Monday.

The merger process is currently pending clearance from the National Company Law Tribunal and approval from the respective shareholders of the entities involved, adding a layer of regulatory and statutory steps before reaching fruition, as highlighted by the bank.

As of 12:09 pm the shares were trading 0.78% higher at ₹90.45

CCI approves merger of IDFC limited and IDFC First Bank

Vanshika Lodhi — Wed, 18 Oct 2023 12:29:24 +0000

The Competition Commission of India (CCI) has given its approval for the proposed merger between IDFC Limited and IDFC First Bank, marking a significant milestone in the creation of a unified financial services powerhouse.

The merger, which is expected to be completed by the end of this year, will streamline operations, enhance customer offerings, and strengthen the combined entity’s position in the Indian financial landscape. The merger will result in the consolidation of two major players in the Indian financial sector. This move is expected to create a robust institution that can leverage synergies from both entities to offer a comprehensive suite of financial services.

This will not only lead to cost savings but also enable the combined entity to serve its customers better. The enhanced customer offerings will range from retail banking products to corporate finance solutions.

It will significantly strengthen the combined entity’s position in the Indian financial landscape. With a larger capital base and diversified portfolio, the new entity will be well-positioned to compete with other major players in the industry. The approval from CCI is a crucial step towards the completion of this merger.

IDFC First Bank’s board of directors granted approval for the merger of IDFC Limited and IDFC First Bank

Avinash Ram — Mon, 03 Jul 2023 16:50:23 +0000

Mumbai, July 3rd, 2023 The Scheme of Amalgamation of IDFC Limited with IDFC First Bank has been accepted by the Board of Directors of IDFC First Bank Limited (“IDFC First Bank” or “the Bank”) at its meeting held today, July 03, 2023. The share exchange ratio for the combination of IDFC Limited and IDFC First Bank shall be 155 equity shares of IDFC First Bank with a face value of 10 cents each that are completely paid-up for every 100 equity shares of IDFC Limited with a face value of 10 cents each that are fully paid-up.

According to calculations based on audited financials as of March 31, 2023, the proposed merger would result in a 4.9% rise in the standalone book value per share of the Bank.

Rationale: The merger will simplify the corporate structures of IDFC FHCL, IDFC Limited, and IDFC First Bank by combining them into a single organisation. It will also make the aforementioned firms’ regulatory compliance procedures easier to manage.
As with other significant private sector banks, the merger will contribute to the establishment of a company with diversified institutional and public shareholders and no promoter holding.

The Scheme is dependent upon receiving the necessary approvals from the Reserve Bank of India (“RBI”), Securities and Exchange Board of India (SEBI), Competition Commission of India, National Company Law Tribunal, BSE Limited, and National Stock Exchange of India Limited (collectively, the “Stock Exchanges”), as well as other statutory and regulatory authorities, and the respective shareholders, in accordance with the relevant laws.

IDFC First Bank reports 168% YoY surge in net profit to Rs 342 crore in Q4

Keertiman Upadhyay — Sat, 30 Apr 2022 12:51:11 +0000

On Saturday, April 30, IDFC First Bank reported its financial results for the fourth quarter ended on March 2022. Net profit surged 168% YoY to Rs 342 crore in Q4.

The net interest income (NII) rose 36% YoY to Rs 2,669 crore in Q4FY22, it was Rs 1,960 crore in the same quarter the previous year. The net interest margin was recorded at 6.27% in Q4. Income from fees & commissions during the Q4 surged by 40% to Rs 841 crore from Rs 600 crore in the same quarter the previous year.

The non-performing assets (NPA) were reduced to 3.7% in Q4 from 3.96% in the same quarter the previous year. Deposits surged 13% YoY to Rs 93,214 crore.

“For the first three years after merger, we grew the retail deposits base (3 year CAGR of 72%), and slowed down the loan growth (3 year CAGR only 6%) to strengthen the foundation. Now that our CASA is ~50%, we can comfortably grow our loan book between 20- 25% compounded for the next three years. This will give us strong operating leverage and growth and profitability. Our capital adequacy is strong at 16.74%,” said MD & CEO V Vaidyanathan.

On Friday, the shares of IDFC First Bank closed 0.63% lower at Rs 39.45/share.

IDFC First Bank reports 49.6% rise in net profits for Q2FY22

Cheryll Jain — Sat, 30 Oct 2021 13:16:51 +0000

IDFC First Bank announced on Saturday, October 30 its performance metrics for the second quarter of FY22 ending September 30. The lender reported a rise of 49.6 percent in its standalone net profits at Rs 151.7 crore for the July-September quarter. The bank had posted a profit of Rs 101.4 crore in the corresponding quarter last year.

In a regulatory filing, the bank also disclosed that its Net Interest Income (NII) saw an increase of 27.4 percent, standing at Rs 2,722 crore Year-on-Year. Meanwhile, its total income during the quarter under review rose to Rs 4,880.29 crore, as against Rs 4,090.87 crore in the same quarter of FY21.

The gross non-performing assets (GNPAs) of the lender improved marginally, decreasing to 4.27 percent as compared with 4.61 percent during the April-June quarter this year. Likewise, net non-performing assets decreased to2.09 percent compared to 2.32 percent in the previous quarter.

However, the bank clarified that the gross and net NPAs it reported for the quarter under review are not liable to comparison due to an interim order by the Supreme Court that had directed banks to not declare accounts NPA that were not categorised as such before August 31, 2020.

IDFC First Bank also posted a growth of 9.75 percent in advances at Rs 1,17,243 for the quarter ending September 30. Gross Funded Assets were reported to be Rs 1,06,828 crore in the corresponding quarter last year. Moreover, the lender’s deposits surged 20.8 percent YoY to Rs 83,793 crore in Q2FY22 from Rs 69,368 crore it reported in the same period last year.

On a consolidated basis, IDFC First Bank posted a net profit of Rs 110.95 crore, slightly up from Rs 109.03 crore. Total consolidated income rose to Rs 4,830.14 crore from Rs 4,090.91 crore.

IDFC First Bank expresses concerns over its exposure to Vodafone Idea

News Desk — Mon, 30 Aug 2021 05:39:16 +0000

Private lender IDFC First Bank in its annual report addressed the concerns that some of the investors would have about its exposure to the cash-strapped telecom service provider. Amid concerns over the bank’s asset quality that could be impacted the most from the troubles faced by Vodafone Idea (Vi),

In a note to its shareholders, IDFC First Bank Managing Director and CEO V Vaidyanathan said “I would now like to directly address the concerns that some of you would have about our exposure to Vodafone Idea. Let us hope the government supports the industry; out of the total dues of the company about ₹1.5 lakh crore are owed to the government itself and hence they will be keen to solve this issue. In any case, we have a lot of growth capital by our side.”

While other lenders also have high exposure to Vodafone in absolute amounts, Yes Bank and IDFC First are likely to be impacted the most as the top in terms of percentage of their loan books. “We will peruse the matter through law of the land. With a strong liability base consisting of low-cost CASA of 50%+, we get good margins in our business. We can compound our advances continuously by about 25% for a long time, and we can build this book to any size of our desire in our lifetimes, it could be ₹2 lakh crore, ₹5 lakh crore, ₹10 lakh crore, or more,” Vaidyanathan added.

He added that the bank will ride it through without impacting its long-term future and build a great bank from here. “So we will keep our eyes riveted on the longer story. We have experienced such situations earlier and have always learned that if we have a strong and profitable model and go on for extended periods of time, then a one-off incident does not dent the long-term story.”

Vodafone Idea is in an urgent need to raise funds to deal with its liabilities and pay dues as its situation remains an overhang after the Supreme Court rejected its appeal to allow the payment of self-assessed adjusted gross revenue (AGR) dues and Kumar Mangalam Birla’s resignation as Chairman after his offer to hand over Aditya Birla group’s stake to the government.

IDFC First’s Head of Investors Relations said that the bank is doing well on all core building blocks. However, after Vodafone Idea Chairman’s letter to the government came to light in early August, its stock has continuously been under pressure and has come down sharply to the early 40s.

The bank believes that the government will solve the problem to keep this a competitive telecom market, however irrespective of the outcome, it is already prepared, and “the bank has strong capital buffers to deal with the situation.”

IDFC First Bank reports loss of Rs. 854 crore in June quarter

Vandana Nampoothiri — Mon, 02 Aug 2021 08:39:34 +0000

IDFC First Bank reported a loss of Rs. 854 crore in the June quarter due to slippage in a single large infrastructure account, the bank said in an official statement. The loss has, in turn, irked the investors, LiveMint reported.

The private bank’s gross bad loan rose to 4.61% from 4.15% in the previous quarter. The slippage in the Mumbai-based toll road account has increased the bad loan in the infrastructure segment by 15% from just 5.7% in the March quarter.

“This toll road account continued to repay its dues, partially, even during this quarter which was affected by second wave (Q1-FY22), the principal outstanding has come down by Rs. 19 crores during Q1 FY22. The Bank carries Rs. 154 crore provision on this account,” the bank said in the official statement.

“The slippage of this account led to an increase in GNPA by Rs. 854 crores. Bank expects to collect our dues in due course from this entity as this is an operating toll road entity and does not expect any material economic loss on this account” it further added.

IDFC First Bank saw a net loss of Rs. 630 crores in Q1 FY22 as compared to Rs. 94 crores in Q1 FY21. The bank created a COVID-19 provision of Rs. 350 crores during the June quarter, taking the total COVID-19 provision pool to Rs. 725 crores. It also reported a profit of 25% in net interest income.

IDFC First bank to launch contactless debit card payment next week

Chittesh Dalmia — Thu, 24 Sep 2020 09:01:02 +0000

IDFC First Bank is set to launch SafePay, a digital facility allowing contactless debit card payments next week. The user would be able to simply wave one’s smartphone against a Near Field Communication (NFC)-enabled POS terminal to conduct the payment.

The facility to be made available in an integrated mobile banking app, the SafePay feature has been tested successfully and certified by Visa. SafePay would enable contactless payments of up to Rs 2,000 per transaction and have a limit of Rs 20,000 per day.

Amit Kumar, IDFC FIRST Bank said, “In a wireless world, the way people want to pay is changing. So far, convenience has been driving the adoption of digital payments. Now, the pandemic has quickened this pace. We see the tap-to-pay technology as significant in this digital play. SafePay makes the payment experience fast and frictionless. For a cardholder, it does away with the need for a physical debit card, and thereby, eliminates concerns about loss of cards. It is the easiest way to check-out of a store in seconds,”

Arvind Ronta, Visa said, “As consumers make a preference shift to digital, payment providers should be able to service any payment need, whether through physical cards or the near ubiquitous smartphone. And to meet such needs, we are delighted to enable tokenized tap to pay transactions for IDFC FIRST Bank customers.