New Delhi: IDFC FIRST Bank reported a strong financial performance for the first quarter of FY27, with a sharp rise in profitability supported by higher operating income and improved asset quality. The bank’s standalone net profit more than doubled year-on-year, while lower bad loans and reduced credit costs further strengthened its quarterly performance.
On a standalone basis, the bank’s Pre-Provision Operating Profit (PPOP) increased 13.99% year-on-year to ₹2,552.57 crore, compared with ₹2,239.37 crore in the corresponding quarter last year. On a sequential basis, PPOP surged 141.14%, reflecting a significant improvement in operating performance.
Profit Before Tax (PBT) climbed to ₹1,408.69 crore, registering a massive 142.77% year-on-year growth from ₹580.25 crore. Compared with the previous quarter, PBT jumped 644.16%, indicating a sharp turnaround in earnings.
The bank’s standalone net profit (PAT) stood at ₹1,074.96 crore, up 132.39% from ₹462.57 crore reported in Q1 FY26. On a quarter-on-quarter basis, net profit rose 237.04%, highlighting strong earnings momentum.
A key positive for the quarter was the decline in provisions. The bank set aside ₹1,143.88 crore towards provisions, down 31.06% year-on-year from ₹1,659.12 crore. However, provisions were 31.60% higher than the previous quarter.
The bank also reported continued improvement in asset quality. Gross Non-Performing Assets (GNPA) declined to 1.51%, compared with 1.97% a year ago and 1.61% in the previous quarter. Net Non-Performing Assets (NNPA) improved to 0.44%, down from 0.55% in the same quarter last year and 0.48% in the March quarter.
On a consolidated basis, IDFC FIRST Bank reported a net profit of ₹1,147.82 crore, marking an impressive 153.12% year-on-year increase over ₹453.47 crore. Sequentially, consolidated profit surged 247.15%.
Overall, the Q1 FY27 results reflect a strong recovery in IDFC FIRST Bank’s earnings, supported by healthy operating performance, lower credit costs, and continued improvement in asset quality. The sharp rise in profitability and declining bad loan ratios indicate that the bank is strengthening its financial position and remains well-placed for sustained growth in the coming quarters.
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