Category: IDFC Bank

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ICICI Securities’s research report on IDFC FIRST Bank
IDFC First Bank (IDFCFB) has reported in line Q4FY24 PAT of INR 7.2bn (up 1% QoQ and down 10% YoY) with improvement in slippage and gross NPA. NII growth remains strong at 24% YoY though elevated opex (up 29% YoY) led to an increase in cost to income (C/I) ratio YoY. Gross advances growth (up 6% QoQ) was strong with deposits growth (up 10% QoQ) continuing to surprise positively. The bank expects C/I to be broadly stable in H1FY25 and see material improvement…
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Source: https://www.moneycontrol.com/news/business/hold-idfc-first-bank-target-of-rs-85-icici-securities-12710928.html/amp

नई दिल्ली IDFC First Bank: IDFC फर्स्ट बैंक ग्राहकों को काफी बड़ा झटका लगने वाला है। आपको बता दें 1 मई से IDFC फर्स्ट बैंक क्रेडिट कार्ड के जरिए से यूनिलिटी बिल पेमेंट करने पर ज्यादा चार्ज देना होगा। बैंक बिजली-पानी जैसी यूटिलिटी बिल के भुगतान पर सरचार्ज लगाने वाला है।

IDFC…
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Source: https://www.timesbull.com/business/news/idfc-first-bank-customers-electricity-bill-payment-will-be-expensive-from-may-1-2024-04-28-262879.html

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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Source: https://www.financialexpress.com/business/industry-idfc-first-bank-q4-pat-below-estimates-down-10-3470337/lite/

Home » General » IDFC FIRST Bank PAT Increases by 21% YOY to Rs. 2,957 Crore for FY 24

Posted By:
April 27, 2024

Business Wire India
Financial results at a glance
The Board of Directors of IDFC FIRST Bank, in its meeting held today, approved the audited financial results for the quarter and the year ended March 31, 2024.

Yearly Profitability 

Net Profit grew 21% YOY from Rs. 2,437 crore in FY23 to Rs. 2,957 crore in FY24. Excluding trading gains from both the years, the growth in PAT was at 28% YOY.
Core Pre-Provisioning Operating Profit (PPOP excluding trading gains) grew by 31% YOY from Rs. 4,607 crore in FY23 to Rs. 6,030 crore for FY24.
Net Interest Income (NII) grew…
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Source: https://www.socialnews.xyz/2024/04/27/idfc-first-bank-pat-increases-by-21-yoy-to-rs-2957-crore-for-fy-24/

IDFC First Bank is set to report its financial performance for the quarter ended March 2024 (Q4FY24) on Saturday, April 27.According to a CNBC-TV18 poll, analysts anticipate the bank’s net interest income (NII) to witness a significant uptick, projecting a robust growth of 25.2% year-on-year (YoY) to reach ₹4,502.2 crore. Moreover, sequentially, the NII is expected to climb by approximately 5%. However, the profitability may take a slight dent as the profit after tax for Q4FY24 is anticipated to dip by 8% to ₹738.6 crore compared to ₹802.6 crore reported in the corresponding quarter of the previous fiscal year.However, broking firm Motilal Oswal expects deposit growth to be strong…
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Source: https://www.cnbctv18.com/market/earnings/idfc-first-bank-earnings-profits-margin-revenue-estimate-19403189.htm/amp

Investors are often guided by the idea of discovering ‘the next big thing’, even if that means buying ‘story stocks’ without any revenue, let alone profit. Sometimes these stories can cloud the minds of investors, leading them to invest with their emotions rather than on the merit of good company fundamentals. While a well funded company may sustain losses for years, it will need to generate a profit eventually, or else investors will move on and the company will wither away. If this kind of company isn’t your style, you like companies that generate revenue, and even earn profits, then you may well be interested in IDFC First Bank (NSE:IDFCFIRSTB). Now this is not to say that the…
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Source: https://simplywall.st/stocks/in/banks/nse-idfcfirstb/idfc-first-bank-shares/news/with-eps-growth-and-more-idfc-first-bank-nseidfcfirstb-makes