For FY19, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing
IDFC First Bank plunged over 8 percent in the morning trade on May 13 after the bank reported a loss of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding period of the last fiscal on account of higher provisioning.
Reacting to the news, shares of IDFC First Bank slipped over 8 percent in morning trade.
For FY19, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing.
The bank’s gross NPAs stood at 2.43 percent of the gross advances during the January-March quarter of 2018-19, down from 3.31 percent in the corresponding period of the last fiscal.
The bank made a provision of Rs 698.2 crore in the fourth quarter of 2018-19, up from Rs 242.45 crore in the corresponding year-ago period.
Its total income stood at Rs 3,944.99 in the quarter ended March 2019 as against Rs 2,374.34 crore earlier.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
