<p>New Delhi: IDFC First Bank on Saturday reported a 35 per cent rise in net profit at Rs 751 crore in the second quarter ended September driven by operating income.</p>.<p> The lender had posted a net profit of Rs 556 crore in the year-ago period.</p>.<p> Total income in the second quarter of the current fiscal rose to Rs 8,786 crore from Rs 6,531 crore in the same period a year ago, IDFC First Bank said in a regulatory filing.</p>.<p> The net interest income (NII) of the bank improved by 32 per cent to Rs 3,950 crore against Rs 3,002 crore in September 2022.</p>.<p> The net interest margin increased to 6.32 per cent at the end of September 2023 as against 5.83 per cent at the end of second quarter of previous year.</p>.<p> The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.11 per cent of gross advances at the end of the September quarter from 3.18 per cent a year ago.</p>.<p> Similarly, net NPAs or bad loans declined to 0.68 per cent as against 1.09 per cent in the year-ago period.</p>.<p> Provision coverage ratio (including technical write-off) of the bank has increased to 84.09 per cent as of September 30, 2023 from 76.49 per cent as of September 30, 2022, it said.</p>.<p> Standard restructured book as percentage of total funded assets improved to 0.38 per cent from 1.03 per cent as on September 30, 2022.</p>.<p> Capital Adequacy Ratio of the bank increased to 16.54 per cent as compared to 14.63 per cent at the end of September 2022.</p>.<p> During the first week of October 2023, the bank raised Rs 3,000 crore from a set of investors via qualified institutional placement (QIP) at an issue price of Rs 90.25 per share, it added. </p>
<p>New Delhi: IDFC First Bank on Saturday reported a 35 per cent rise in net profit at Rs 751 crore in the second quarter ended September driven by operating income.</p>.<p> The lender had posted a net profit of Rs 556 crore in the year-ago period.</p>.<p> Total income in the second quarter of the current fiscal rose to Rs 8,786 crore from Rs 6,531 crore in the same period a year ago, IDFC First Bank said in a regulatory filing.</p>.<p> The net interest income (NII) of the bank improved by 32 per cent to Rs 3,950 crore against Rs 3,002 crore in September 2022.</p>.<p> The net interest margin increased to 6.32 per cent at the end of September 2023 as against 5.83 per cent at the end of second quarter of previous year.</p>.<p> The bank's asset quality showed improvement as gross non-performing assets (NPAs) declined to 2.11 per cent of gross advances at the end of the September quarter from 3.18 per cent a year ago.</p>.<p> Similarly, net NPAs or bad loans declined to 0.68 per cent as against 1.09 per cent in the year-ago period.</p>.<p> Provision coverage ratio (including technical write-off) of the bank has increased to 84.09 per cent as of September 30, 2023 from 76.49 per cent as of September 30, 2022, it said.</p>.<p> Standard restructured book as percentage of total funded assets improved to 0.38 per cent from 1.03 per cent as on September 30, 2022.</p>.<p> Capital Adequacy Ratio of the bank increased to 16.54 per cent as compared to 14.63 per cent at the end of September 2022.</p>.<p> During the first week of October 2023, the bank raised Rs 3,000 crore from a set of investors via qualified institutional placement (QIP) at an issue price of Rs 90.25 per share, it added. </p>