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IDFC Bank Q4 net profit rises on higher interest income

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Reuters
Last Updated : Apr 25 2017 | 7:08 PM IST

REUTERS - India's IDFC Bank Ltd reported a 7 percent rise in fourth-quarter net profit on Tuesday, helped by an increase in interest income and a drop in provisions for bad loans.

Profit rose to 1.76 billion rupees ($27.36 million) from 1.65 billion rupees in the year ago period, while net interest income grew 22.4 percent to 22.23 billion rupees, the company said. (https://bsmedia.business-standard.combit.ly/2oHOEC0)

Gross bad loans as a percentage of total loans fell to 2.99 percent in the March quarter, from 7.03 percent in the December quarter.

($1 = 64.3200 rupees)

(Reporting By Arnab Paul in Bengaluru; Editing by Biju Dwarakanath)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Apr 25 2017 | 6:59 PM IST

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