Capital First Strategy, Loan Growth and Profitability Trends
Results at a glance: IDFC FIRST Bank: Strong Strides across all the Strategic Priorities
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3. Strong growth in Core Earnings:
Strong NII Growth: NII grew by 14% YOY to Rs. 1,744 crore in Q3 FY21 from Rs. 1,534 crore in Q3 FY20. It grew by 5% QOQ from Rs. 1,660 crore in
Q2 FY21. NII for the current quarter includes the impact of provision for interest reversal for proforma NPA cases.
Strong NIM improvement: NIM has improved to 4.65% in Q3 FY21 as compared to 3.86% in Q3 FY20 and 4.57% in Q2 FY21.
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Strong growth in Total Income (NII + Fees and Other Income+ Trading Gain): Total income grew 24% YOY to Rs. 2,616 crore in Q3 FY21 from Rs.
2,113 crore in Q3 FY20. It grew by 14% QOQ from Rs. 2,288 crore in Q2 FY21.
Total Income (Excluding Trading Gain) grew by 18% YOY to Rs. 2,326 crore in Q3 FY21 from Rs. 1,972 crore in Q3 FY20. It grew by 19% QOQ from
Rs. 1,951 crore in Q2 FY21
Growth in Pre-Provisioning Operating Profit: PPOP including trading gains (Rs.290 cr) grew 13% YOY to Rs. 773 crore in Q3 FY21 as compared to
PPOP (including trading gains of Rs. 142 cr) of Rs. 682 crore in Q3 FY20. It de-grew by 4% QOQ from PPOP (including trading gains of Rs. 337 cr)
Rs. 803 crore in Q2 FY21.
Provision: The total provisions for Q3 FY21 was Rs. 595 crore as compared to Rs. 2,305 crore (including provision of Rs. 1,622 crore on one
telecom exposure) in Q3 FY20 and as compared to Rs. 676 crore in Q2 FY21. This includes additional COVID provisions of Rs. 390 crore made
during the quarter.
Profit After Tax: The PAT for Q3 FY21 is reported at Rs. 130 crore as compared to Loss of Rs. 1,639 crore for Q3 FY20 and as compared to PAT of
Rs. 101 crore in Q2 FY21.
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