IDFC First Bank Ltd reports consolidated PAT of Rs. 76.36 crore in Q4 FY2020

IDFC First Bank Ltd has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.4553.07 crores during the period ended March 31, 2020 as compared to Rs.4778.20 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.76.36 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.(1631.59) crores for the period ended December 31, 2019.

The company has reported EPS of Rs.0.16 for the period ended March 31, 2020 as compared to Rs.(3.36) for the period ended December 31, 2019.

Financials	Q4 FY19-20	Q3 FY19-20	% Change
Total Income	₹ 4553.07 crs	₹ 4778.20 crs	-4.71%
Net Profit	₹ 76.36 crs	₹ (1631.59) crs	104.68%
EPS	₹ 0.16	₹ (3.36)	104.76%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.4553.07 crores during the period ended March 31, 2020 as compared to Rs.3970.81 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.76.36 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.(212.12) crores for the period ended March 31, 2019.

The company has reported EPS of Rs.0.16 for the period ended March 31, 2020 as compared to Rs.(0.44) for the period ended March 31, 2019.

Financials	Q4 FY19-20	Q4 FY18-19	% Change
Total Income	₹ 4553.07 crs	₹ 3970.81 crs	14.66%
Net Profit	₹ 76.36 crs	₹ (212.12) crs	136%
EPS	₹ 0.16	₹ (0.44)	136.36%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.17962.72 crores during the 12 months period ended March 31, 2020 as compared to Rs.13056.17 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.(2843.39) crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.(1907.87) crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.(5.86) for the 12 months period ended March 31, 2020 as compared to Rs.(4.63) for the 12 months period ended March 31, 2019.

Financials	Year Ended FY19-20	Year Ended FY18-19	% Change
Total Income	₹ 17962.72 crs	₹ 13056.17 crs	37.58%
Net Profit	₹ (2843.39) crs	₹ (1907.87) crs	49.03%
EPS	₹ (5.86)	₹(4.63)	26.57%

- Gross NPA of the Bank reduced to 2.60% as of March 31, 2020, as compared to 2.83% as of December 31, 2019.

- Net NPA was 0.94% as of March 31, 2020, as compared to 1.23% as of December 31, 2019.

- The Gross NPA and Net NPA for the Bank without considering the moratorium impact would have been 2.88% and 1.14% respectively.

- As of 31 March 2020, after considering the moratorium impact, the Gross NPA % of the Retail Loan Book was at 1.77% as compared to 2.26% as of 31 December 2019 and Net NPA % of the Retail Loan Book of the Bank was at 0.67% as compared to 1.06% as of 31 December 2019.

- Without the moratorium, the Gross NPA and Net NPA of Retail Assets as of 31 March 2020 would have been 2.22% and 0.99% as compared to 2.26% and 1.06% as of 31 December 2019.

- Apart from the NPA, the identified stressed asset pool of the bank, reduced by Rs. 933 crores during the last financial year. This stressed pool stood at Rs. 3,205 crores as of 31 March 2020 against which the Bank has done provisioning of Rs. 1,569 crores, 49% of the pool.

- Apart from the accounts mentioned in the previous slide, the Bank had also marked one large telecom account as stressed and provisioned 50% against the total outstanding of Rs. 3,244 crores (Funded – Rs. 2,000 crores and Non-Funded – Rs. 1,244 crores) in the quarter ending on 31 December 2019. The Bank continues to carry the same provision for the account as of 31 March 2020.

Mr. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, "We are happy to inform that deposits for our Bank are coming thick and strong. In Q4 FY20, we saw strong inflows into our Bank as retail deposits increased by Rs 4,658 crore, despite the turmoil in the markets. Once the lockdown lifts, things will only get better for both lending as well as deposits as the economic activity will pick up. We are already seeing this that where locations are opening up from lockdown, demand is strong. Further by raising Rs. 2,000 crore of fresh equity capital, and reaching strong capital adequacy of 15.5%, the Bank is in a strong position to grow from here on."

Shares of IDFC First Bank Ltd was last trading in BSE at Rs.18.85 as compared to the previous close of Rs. 18.9. The total number of shares traded during the day was 1762437 in over 48844 trades.

The stock hit an intraday high of Rs. 19.3 and intraday low of 18.5. The net turnover during the day was Rs. 33201090.

Source : Equity Bulls

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