IDFC First Financial institution on Saturday reported 53 per cent decline in internet revenue at Rs 339 crore for the third quarter ended December 2024 on elevated provisions because of larger slippages of loans.
The personal sector lender had earned a internet revenue of Rs 716 crore in the identical quarter a 12 months in the past.
Whole revenue elevated to Rs 11,123 crore in the course of the quarter from Rs 9,396 crore in the identical interval a 12 months in the past, IDFC First Financial institution stated in a regulatory submitting.
Curiosity revenue elevated to Rs 9,343 crore from Rs 7,879 crore a 12 months in the past.
On the asset high quality entrance, the financial institution’s gross non-performing belongings ratio improved to 1.94 per cent from 2.04 per cent a 12 months in the past.
Equally, internet NPAs, or dangerous loans, got here right down to 0.52 per cent from 0.68 per cent on the finish of the third quarter final fiscal.
Nevertheless, general provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the identical quarter a 12 months in the past.
Provisions protection ratio on non-performing loans was 78.2 per cent as on December 31, 2024.
The gross slippage for Q3-FY25 was Rs 2,192 crore as in comparison with Rs 2,031 crore in Q2 FY 2025, a rise of Rs 162 crore, it stated.
“Majority of the rise in slippage throughout Q3FY 25 was from the microfinance enterprise which constituted Rs 143 crore out of the stated Rs 162 crore. Therefore, gross slippage on the Retail, MSME, Agri and Company Loans, i.E the non-microfinance enterprise was steady. These companies constituted about 95 per cent of the overall e-book of the financial institution,” it stated.
Capital Adequacy Ratio additionally declined to fifteen.65 per cent from 16.73 per cent on the finish of third quarter of earlier monetary 12 months.
The financial institution accomplished merger with IDFC Ltd in October 2024 by which Rs 618 crore of capital has been added to the net-worth, whereas the excellent share depend has been decreased by 16.64 crore.
