Net interest income rose 26.8 per cent to Rs 1,889 crore while the net interest margin stood at 3.5 per cent.
It had posted net profit of Rs 3865.33 crore in the correspoinding quarter previous year. Net NPAs also inched up to 0.44 per cent from 0.32 per cent.
While the bad loans ratio more than doubled to 1.72 per cent from 0.85 per cent, total provisions soared nearly fivefold to Rs 421 crore from Rs 115 crore in the year-ago period and included Rs 289 crore for bad assets.
The company maintained its forecast for full-year revenue growth in a range of 10.5 per cent-12.5 per cent in constant currency terms. "However, some of that growth has been offset by higher provisioning, but that's a tradeoff", deputy managing director Paresh Sukthankar told reporters.
All-round England go 2-0 in front
Test captain Joe Root and wicketkeeper Jos Buttler steadied the innings with a stand of 68 before the latter fell to Starc for 42. Just like in game one, Aaron Finch (106) and Mitchell Marsh (36) anchored the innings but got out as Australia began to launch.
In the quarter ended December 2017, Reliance Jio Infocomm may have posted profit as the company would have seen a growth in subscriber count thanks to sharp reduction in interconnection usage charges.
In the reporting quarter, one of the three accounts, which was under the 5:25 scheme, was upgraded to a standard account, he said without naming the same. HDFC Bank crossed Rs. 5 lakh crore (Rs 5 trillion) in terms of market capitalization for the first time on Thursday, marking its entry to the big league. "If current liquidity conditions persist, there could be upward pressure on deposit and lending rate".
At 3pm, IDFC Bank was trading at Rs58 on the BSE, down 0.34% from its previous close, while benchmark Sensex index rose 0.56% to 35,456.23 points.
The bank is targeting to push up its provision coverage ratio, which dropped to the mid-40 per cent following the surge in NPAs after the risk-based supervision exercise by RBI, to 60 per cent next fiscal, Kapoor said.