Stock Report

IDFC First Bank Ltd posts consolidated net profit of Rs. 616.61 crores in Q3FY23

Posted On : 2023-01-21 16:15:28( TIMEZONE : IST )

IDFC First Bank Limited has reported Consolidated financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 7064.33 crores during the period ended December 31, 2022 as compared to Rs. 6531.16 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 616.61 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 567.19 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 0.98 for the period ended December 31, 2022 as compared to Rs. 0.90 for the period ended September 30, 2022.

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹7064.33 crs	₹6531.16 crs	8.16%
Net Profit	₹616.61 crs	₹567.19 crs	8.71%
EPS	₹0.98	₹0.90	8.89%

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.7064.33 crores during the period ended December 31, 2022 as compared to Rs.5198.58 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.616.61 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.290.21 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.0.98 for the period ended December 31, 2022 as compared to Rs.0.46 for the period ended December 31, 2021.

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹7064.33 crs	₹5198.58 crs	35.89%
Net Profit	₹616.61 crs	₹290.21 crs	112.47%
EPS	₹0.98	₹0.46	113.04%

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.19372.86 crores during the 9 Months period ended December 31, 2022 as compared to Rs.14960.45 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.1668.81 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.-220 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.2.64 for the 9 Months period ended December 31, 2022 as compared to Rs.-0.35 for the 9 Months period ended December 31, 2021.

Financials	9 Months Ended FY2023	9 Months Ended FY2022	% Change
Total Income	₹19372.86 crs	₹14960.45 crs	29.49%
Net Profit	₹1668.81 crs	₹-220 crs	858.55%
EPS	₹2.64	₹-0.35	854.29%

Asset Quality:

Asset Quality	Q3 FY2023	Q2 FY2023	Q3 FY2022
Gross NPA	₹4302.64 crs	₹4396.19 crs	₹4456.94 crs
Gross NPA %	2.96%	3.18%	3.96%
Net NPA	₹1464.16 crs	₹1479.97 crs	₹1914 crs
Net NPA %	1.03%	1.09%	1.74%

Gross NPA was at ₹ 4302.64 crs in Q3 FY2023 against ₹ 4456.94 crs in Q3 FY2022. The same was at ₹ 4396.19 crs in Q2 FY2023.

Net NPA was at ₹ 1464.16 crs in Q3 FY2023 against ₹ 1914 crs in Q3 FY2022. The same was at ₹ 1479.97 crs in Q2 FY2023.

GNPA was at 2.96% of Gross advances as on December 31, 2022 as compared to 3.96% as on December 31, 2021 and 3.18% as of September 30, 2022.

Net NPA was at 1.03% of Gross advances as on December 31, 2022 as compared to 1.74% as on December 31, 2021 and 1.09% as of September 30, 2022.

Ratios	Q3 FY2023	Q2 FY2023	Q3 FY2022
RoA %	1.11%	1.07%	0.64%
CAR (BASEL III) %	15.01%	14.63%	15.38%

Return on Average Assets (RoA) is at 1.11% for Q3 FY2023 against 1.07% in Q2 FY2023 and 0.64% in Q3 FY2022.

In Q3 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at 15.01%, as compared to 14.63% in Q2 FY2023 and 15.38% in Q3 FY2022.

Shares of IDFC First Bank Limited was last trading in BSE at Rs. 59.35 as compared to the previous close of Rs. 59.45. The total number of shares traded during the day was 2036574 in over 5350 trades.

The stock hit an intraday high of Rs. 60.25 and intraday low of 59.20. The net turnover during the day was Rs. 121628601.00.