IDFC First Bank Q3 net profit rises 117% to Rs 281 cr

Its net interest income grew by 36% on a YoY basis to reach Rs 2,580 cr in Q3FY22

Private lender IDFC First Bank's net profit rose by 117 per cent to Rs 281 crore in third quarter ended December 2021 (Q3FY22) as against Rs 130 crore in the year-ago period.

Its net interest income (NII) grew by 36 per cent on a YoY basis to reach Rs 2,580 crore in Q3FY22. Net interest margin (NIM) stood at 5.9%, excluding interest income pertaining to prior period for one telecom account.

The fee and other income grew by 28 per cent YoY to reach Rs 744 crore in Q3FY22, the lender said in a statement on Saturday.

The provisions other than tax declined