IDFC First Bank Q1 results: Net profit declines 32% YOY to ₹463 crore | Details here

IDFC First Bank Ltd. reported a significant drop in its net profit for the first quarter of FY26.  The private lender reported a profit after tax (PAT) of ₹462.6 crore for the June quarter, marking a 32.07% drop compared to ₹681 crore in the same period last year.

Its net interest income (NII) increased by 5% year-on-year, rising to ₹4,933 crore from ₹4,695 crore.

The bank said in a press release that the decline in profit is largely impacted by microfinance business and interest rate movement.

Provisions and contingencies of the bank jumped 67% on year to 1,659 crore. This was impacted by slippages in the bank’s micro-finance book, the press release said.

Due to the rise in provisions, the bank’s asset indicators reported a slight deterioration. Gross non-performing assets ratio came in at 1.97% as compared to 1.87% a quarter ago. Net NPA also rose slightly at 0.55% as against 0.53% in the last quarter.