IDFC First Bank’s net profit for the fourth quarter rose to Rs 319 crore, compared to Rs 304 crore in the same period last year. Provisions decreased to Rs 869 crore from Rs 1,451 crore previously. The net interest margin rose to 5.95% from 5.76% in the prior quarter and 5.93% a year earlier. Operating profit fell to Rs 1,059 crore from Rs 1,812 crore, primarily because of fraud-related costs. The bank recorded the full fraud amount as an expense in the quarter ending March 31, causing a sharp increase in operating costs and a decline in operating profit. Other income also decreased due to a Rs 274 crore loss from selling shares in a distressed energy firm. Total income grew to Rs 12,183 crore from Rs 11,308 crore. Gross loans increased 20% year-over-year to Rs 2.84 lakh crore, while the gross non-performing assets ratio improved by 26 basis points to 1.61%. Deposits rose 17% to Rs 2.95 lakh crore, with the current and savings account ratio climbing 289 basis points over the past year to 49.8%. The board recommended a dividend of 25 paise per share for FY2626, equating to 2.50% on a face value of Rs 10 per share.
