What was the IDFC First Bank EPS for FY2024?
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The basic EPS for FY2024 for IDFC First Bank was ₹4.18.
IDFC First Bank's Q4 results were announced on 26 April 2024, generating profitability in the bank’s numbers. The Bank was delighted to share Q4 FY24 profitability numbers with Net Profit standing at ₹724 Crore. Furthermore, the Net Interest Income (NII) rose 24% from ₹3,597 Crore in Q4 FY23 to ₹4,469 Crore in Q4 FY24. In exceptionally good yearly results, at the end of Q4 FY 24, the Bank had a Total Deposits YoY growth of a staggering 38.7%, not to mention a CASA Ratio of 47.2%. Continuing its growth momentum, there was an increase in loans and advances and there were improvements in Asset Quality with GNPA and NNPA enhanced by 16 bps and 8 bps, respectively, on a QoQ basis.
By now several people have heard of IDFC First Bank and will be interested to know about IDFC First Bank’s results for the fourth quarter of FY2023-24. The Bank has provided its customers and potential interested parties with promising quarterly results, and even better yearly results. For starters, it has crossed a landmark of ₹4,00,000 Crore figure of Total Deposits and Advances (including credit substitutes). The major feature of the Bank’s Q4 FY24 and FY24 results is that its Asset Quality has sustained itself with an all-time best GNPA and NNPA at 1.88% and 0.6%, respectively, with the NNPA being the lowest in the history of the Bank’s operations.
Explore: Idfc First Bank Limited Share Price
Showing stability in its parameters of Asset Quality, IDFC First Bank’s result represents its robust operational structure and its rise to meet the competition proficiently. Here are 5 of the most relevant highlights of the Bank’s Q4 results:
Additional Read: 129 Indian Companies to Release Q4 Results
As mentioned by its leadership, IDFC First Bank has, as its core strength, its deposit-raising franchise. The Bank’s CASA ratio is one of the best in the Banking industry and stands at around 47%. Furthermore, the Bank’s CD (Credit-to-Deposit Ratio) for FY24 is at 76%. This has been a phenomenal decrease of 98.4%, falling below 100% for the very first time with more decline expected going into FY25.
IDFC First Bank’s Q4 and FY24 performance stresses how the Bank has managed to steer itself into profitability, in an exceptional attempt to compete with strong players in the Banking sector. Here are some highlights of the Bank’s major capabilities as featured in its result report:
Additional Read: Quarterly Results
Metrics | Q4 FY23 | Q3 FY24 | Q4 FY24 | YoY Growth % |
Net Interest Income (NII) | 3,597 | 4,287 | 4,469 | 24% |
Operating Income | 4,994 | 5,803 | 6,111 | 22% |
Operating Income (Excl. Trading Gains) | 4,778 | 5,755 | 6,079 | 27% |
Operating Profit (PPOP) | 1,559 | 1,562 | 1,664 | 7% |
Operating Profit (Excl. Trading Gains) | 1,342 | 1,515 | 1,632 | 22% |
Profit Before Tax | 1,076 | 908 | 942 | -13% |
Profit After Tax | 803 | 716 | 724 | -10% |
In an evolving and dynamic Banking sector that exemplifies the Indian Banking Sector at large, IDFC First Bank's Q4 results and FY24 results are exceptional. From small beginnings, the Bank has grown into something of a contender, if not now, then potentially for the future in the Indian Banking sector. With positive figures like the 21% growth in PAT, standing at ₹2957 Crore in FY 24, and more importantly, the core PPOP (Excl. Trading Gain) growing 31% YoY to leap beyond ₹6,000 Crore in the Bank’s history of business, the Bank has witnessed many firsts in its prospects for success.
Additional Read: Annual Results
In its Q4 results and FY2024 results, IDFC First Bank has portrayed its ability to rise to scale and bring strong profitability to its table of business. This is what sees the Bank in good stead for FY2025, and it looks forward to the next financial year with confidence. With an upgrade in its credit ratings (Crisil, Care, and ICRA from AA to AA+), the Bank is set to march forward with a positive chip on its shoulder marking its resilience to stay afloat in a competitive industry and show excellence in business along with care for its dedicated customer base.
Results for the Fourth Quarter and Full Year Ended March 31, 2024
Source:
IDFC First Bank Press Release on BSE
IDFC First Bank Investor Presentation on BSE
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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The basic EPS for FY2024 for IDFC First Bank was ₹4.18.
Yes, the Bank’s Net Interest Income (NII) grew by 24% from ₹3,597 Crore in Q4 FY23 to ₹4,469 Crore in Q4 FY24.
In IDFC First Bank Q4 results, the PAT was clocked at ₹724 Crore.
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