IDFC Bank Q3 Net dips 27 pc to Rs 146 crore

Private lender IDFC Bank today reported a 26.60 per cent fall in net profit at Rs 146.11 crore for the quarter ended December 31, 2017.
The bank had earned a net profit of Rs 191.26 crore during the same quarter of the previous fiscal.
Total income of the bank declined 2.72 per cent to Rs 2,514.5 crore from Rs 2,585.07 crore in the year-ago period, IDFC Bank said in BSE filing.
Its portfolio quality improved during the quarter under review with gross non-performing assets (NPAs) at 5.62 per cent of gross advances as against 7.03 per cent in the same quarter of the previous fiscal.

The bank's net NPAs also improved to 2.52 per cent, from the earlier 2.57 per cent.
Provisions and contingencies other than tax of the bank stood at Rs 108.6 crore during the quarter as compared to Rs 231.75 crore in the same quarter a year ago.
Shares of IDFC Bank closed 0.69 per cent higher at Rs 58.60 on BSE.