Private sector lender IDFC First Bank on Saturday reported its Q4FY24 net profit at Rs 724 crore, lower 10% year-on-year (y-o-y), primarily due to lower trading gains and higher provisions in the reporting quarter. The net profit was lower than Bloomberg consensus estimate of Rs 756 crore for Q4.
“Net Profit for Q4FY24 stood at Rs 724 crore as compared Rs 803 crore in Q4FY23. The PAT for Q4FY23 was Rs 701 crore excluding one-time items already called out in Q4FY23,” the lender said in a release.
During Q4FY24, the lender’s trading gains stood at Rs 32 crore, 85% lower than Rs 216 crore a year ago. According to the bank’s management commentary in Q4FY23, the lender…
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