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Stock Report
IDFC First Bank Ltd reports consolidated loss of Rs. 621.16 crores in Q1FY22
Posted On : 2021-07-31 17:36:02( TIMEZONE : IST )
IDFC First Bank Ltd has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY 2021-22) - QoQ Comparison
The company has reported total income of Rs.4938.02 crores during the period ended June 30, 2021 as compared to Rs.4834.19 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.(621.16) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.136.92 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.(1.01) for the period ended June 30, 2021 as compared to Rs.0.24 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 4938.02 crs | ₹ 4834.19 crs |  2.15% |
| Net Profit | ₹ (621.16) crs | ₹ 136.92 crs |  -553.67% |
| EPS | ₹ (1.01) | ₹ 0.24 | -520.83% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.4938.02 crores during the period ended June 30, 2021 as compared to Rs.4434.24 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.(621.16) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.100.07 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.(1.01) for the period ended June 30, 2021 as compared to Rs.0.20 for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 4938.02 crs | ₹ 4434.24 crs | 11.36% |
| Net Profit | ₹ (621.16) crs | ₹ 100.07 crs | -720.73% |
| EPS | ₹ (1.01) | ₹ 0.20 | -605% |
Mr. V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, said, "Within just two years we have made tremendous progress at the bank. Our CASA ratio is high at 50.86% despite reducing savings account interest rates by 200 bps recently, which points to the trust customers have in our Bank and service levels. Because of our low cost CASA, we can now participate in prime home loans business, which is a large business opportunity."
"Regarding the loss during the quarter, we have made prudent provisions for COVID second wave, and expect provisions to reduce for the rest of the three quarters in the FY 22. We guide for achieving preCOVID level Gross and Net NPA, with targeted credit loss of only 2% on our retail book by Q4 FY 22 and onwards, assuming no further lockdowns."
"Our Core Operating Profits even without treasury operations have reached the highest ever level at Rs. 601 crore. Thus from now on, with reduced expected provisions, the Bank will be well on its path of creating a wonderful profitable franchise."
Shares of IDFC First Bank Ltd was last trading in BSE at Rs. 52 as compared to the previous close of Rs. 52. The total number of shares traded during the day was 2285584 in over 10645 trades.
The stock hit an intraday high of Rs. 52.6 and intraday low of 51.65. The net turnover during the day was Rs. 118900831.
