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IDFC Bank June-quarter profit falls 59 percent

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Reuters
(Reuters) - India's IDFC Bank on Monday said June-quarter profit fell nearly 59 percent, hurt by lower income from non-fund based items.
The bank reported a net profit of 1.82 billion rupees ($26.52 million) for the quarter ended June 30, compared with 4.38 billion rupees a year ago.
Gross bad loans as a percentage of total loans stood at 3.24 percent at June-end, compared with 3.31 percent in the preceding quarter and 4.13 percent at the end of year-ago quarter.
($1 = 68.6300 Indian rupees)
(Reporting by Sharnya G and Aby Jose Koilparambil in Bengaluru; Editing by Sunil Nair)

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First Published: Jul 30 2018 | 5:29 PM IST

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