IDFC net up 57% at Rs 526 cr

Net interest income rose 10% to Rs 643 cr

Infrastructure financing non-banking financial company—IDFC today reported 57 per cent rise in net profit at Rs 526 crore on consolidated basis in the March quarter due to rise in non-interest income. Non-interest income surged 171 per cent to Rs 363 crore. Net interest income rose 10 per cent to Rs 643 crore. For the full year, net profit rose 37 per cent to 1,836 crore. Net interest margin for the year was 4.1 per cent, down 20 basis points.

Capital adequacy ratio was healthy at 22.1 per cent with Tier-I capital of 19.8 per cent.  Non-performing assets (NPA) also reduced year on year with gross NPAs coming down to 0.15 per cent from 0.30 per cent and net NPA coming down from 0.15 per cent to 0.05 per cent.  though NPAs were down its provisions increased 97 per cent to Rs 165 crore.