IDFC First Bank Profit Rises 196.5% to 1,045 Crore Rupees in Second Quarter
Key Facts
IDFC First Bank reported net profit of 1,045 crore rupees in the second quarter of fiscal 2027, up 196.5% year over year, according to Tax Guru. The result marks a sharp increase in profit compared with the same period a year earlier, while core operating profit, excluding trading gains, rose 38.5% to 2,527 crore rupees. This measure offers a view of growth in the bank’s core operations alongside reported net profit. The available information did not include a comparison of net profit with the previous quarter or analysts’ estimates. For the first half ended September 30, 2026, net profit was 2,120 crore rupees, with a return on assets of 0.99%.
Profit growth was accompanied by an increase in deposits, which reached 3,48,583 crore rupees as of September 30, 2026, up 25.9% year over year and 11.8% from the previous quarter. The average share of current and savings accounts, known as CASA, was 48.4% in the second quarter. These figures show an expanded deposit base, with the share of current and savings accounts at this level during the period. Loans and advances, including credit substitutes and loans backed by FCNR(B) deposits, grew 30.1% year over year to 3,46,913 crore rupees. Loan growth alongside deposit growth illustrates the bank’s expansion during the quarter.
The bank said it raised 34,390 crore rupees through FCNR(B) deposits during the quarter, equivalent to about 3.6 billion dollars. It said these deposits were mainly for tenors of 3 to 5 years and cost about 1% less than raising domestic fixed deposits. The bank said these tenors are expected to provide structural liquidity in the coming years. This funding forms part of the deposit base that expanded during the period, while the bank included loans backed by these deposits in loans and advances. The bank’s statement linked the longer tenors and lower cost of funding with support for future liquidity.
On asset quality, the bank said its gross non-performing asset ratio was 1.32% in the second quarter, while the net ratio was 0.40%. The bank described asset quality as stable, without providing a numerical comparison with the previous quarter in the information published here. The two ratios indicate the level of non-performing loans before and after provisions, respectively. The bank had previously published its first-quarter fiscal 2027 results and an investor presentation. It also announced that it had received its first international investment-grade rating from S&P Global Ratings, according to its press releases page.
The bank set October 24, 2026, as the date for a board meeting to consider the financial results, according to its official announcements page. It also listed a notice for a second-quarter fiscal 2027 results call. These dates follow the publication of the first-quarter results and the related investor presentation. The available information did not include details on the call’s timing or what it would cover beyond the quarterly results. The reported figures for the quarter and first half remain the focus of the current disclosure.