IDFC Bank Q2 profit soars over six times

Private sector IDFC Bank today reproted over six-fold jump in net profit to Rs 387.76 crore for the second quarter ended on September 30, 2016.
The bank had reported a net profit of Rs 59.63 crore in the corresponding quarter a year ago.
Its total income, as per a regulatory filing, stood at Rs 2,493.13 crore as against Rs 91.81 crore in the second quarter of the last financial year.
The bank said provisioning for bad loans for the quarter under review stood at Rs 22.34 crore.
Its Gross NPAs to Gross Advances stood at 5.96 per cent and net NPAs stood at 2.44 per cent during the second quarter of the current fiscal year.

Shares of the bank closed at Rs 78.25 on BSE, up 0.06 per cent over the previous day.
IDFC Bank was incorporated on October 21, 2014, as a company. Pursuant to grant of banking licence by RBI and other related approvals, IDFC Bank commenced its banking operations on October 1, 2015.