IDFCFIRSTB

IDFC First Bank surged around 2.5 percent today after the private lender reported a 5 percent year-on-year increase in net profit to Rs 319 crore for the quarter ended March 31, 2026, compared to Rs 304 crore in the same period last year. However, on a sequential basis, profit declined 36.5 percent, largely due to the impact of a fraud at its Chandigarh branch. The bank clarified that it has fully accounted for the financial impact of the incident in its Q4 FY26 results, with a post-tax hit of Rs 483 crore. Management indicated that it does not expect any further significant financial adjustments related to the issue. Following the results, the stock was trading about 2.4 percent higher at Rs 68.85 apiece. Despite the overhang from the fraud case, the bank delivered a resilient performance during the quarter, with margins and asset quality coming in better than expected. On the asset quality front, the gross non-performing asset (NPA) ratio improved to 1.61 percent at the end of March, compared to 1.69 percent in the December quarter. Similarly, the net NPA ratio declined to 0.48 percent from 0.53 percent in the previous quarter, reflecting a stable credit profile.