IDFC First Bank Shares Down By Over 7% After 50% YoY Decline In Q3 Results

IDFC First bank has gotten off to a bad start to the new trading week at Dalal Street. The shares of this Mumbai-based bank decline at the bourse.

The shares of the company depleted in value after the company published its results for the third quarter of FY25 or Q3, which ended in December.

IDFC's Decline In Net Profit

The bank reported a net profit of Rs 340 crore. This number was higher than the previous quarter's Rs 211 crore.

However, the profit number was far lower than the profits achieved in the same quarter a year ago. In a YoY comparison, the profits dipped by over 50 per cent. In Q3 of FY24, IDFC First managed to accrue a net profit of Rs 732 crore.

However, the total income earned increased to Rs 11,122 crore by the end of December 31. This figure is higher than the previous quarter's Rs 10,684 crore. In the Q3 of FY24, the figure stood at Rs 9,396 crore.

Furthermore, total assets increased to Rs 3,35,956 crore, compared to last year's Rs 2,70,800 crore.

Meanwhile, the interest earned in the quarter reached Rs 9,342 crore in Q3, compared to Q2's Rs 8,957 crore.

IDFC First Shares

Now, when we take a close look at the company shares, the bank started the day on a negative, after it opened over Rs 2 lower than the previous closing last week. The shares opened at Rs 59.01, against Friday's Rs 62.27 per share.

The overall decline in the company shares stood at a massive 7.29 per cent or Rs 4.54. This took the overall of the company shares to Rs 57.73 per piece.

The lender's 52-week high stood at Rs 86.10 per share. It also needs to be noted, that today, the bank also hit a 52-week low of Rs 57.45 per share.