IDFC First Bank on Saturday reported a standalone net profit of Rs 1,045 crore for the second quarter of FY27 (July-September 2026), a jump of 197 per cent from Rs 352 crore in the same quarter last year — yaani, the bank's quarterly profit has nearly tripled in a year. The results were announced in a regulatory filing on October 24.

Source: PTI via The Hindu BusinessLine

The profit surge was driven by growth in core income and a fall in provisions. Net interest income rose 21 per cent year on year to Rs 6,184 crore, from Rs 5,113 crore a year earlier, while other income — including fees, forex and treasury earnings — rose 24.5 per cent to Rs 2,285 crore. Provisions declined 22 per cent to Rs 1,137 crore. Total income rose to Rs 14,218 crore from Rs 11,828 crore in the year-ago quarter.

Source: The Hindu BusinessLine

Asset quality improved during the quarter. Gross non-performing assets (NPAs) fell to 1.32 per cent of gross advances at the end of September 2026, from 1.86 per cent a year earlier, and net NPAs moderated to 0.40 per cent. The bank's net interest margin stood at 5.58 per cent, broadly steady from a year earlier, and its capital adequacy ratio increased to 14.67 per cent from 14.11 per cent at the end of September 2025.

The balance sheet also grew at a strong pace. Total deposits rose 26 per cent year on year to Rs 3,48,583 crore — yaani about Rs 3.49 lakh crore — while advances rose 30 per cent to Rs 3,38,929 crore. The bank said it mobilised Rs 34,390 crore in FCNR(B) deposits during the quarter despite having no branch, subsidiary or representative office outside India, which it credited to its digital capabilities and customer trust.

The results came on a busy earnings Saturday for Indian banks, with lenders reporting second-quarter numbers through the day. IDFC First Bank's figures show a private lender converting years of franchise investment into sharply higher profits, even as margins stayed under pressure across the banking sector.