$IDFCFIRSTB Q1 Results: Profit surges over 2x to ₹1,075 crore; advances climb 21%, deposits up 17%

Synopsis: $IDFCFIRSTB delivered a strong set of Q1 FY27 earnings, with net profit more than doubling to ₹1,075 crore, backed by healthy credit growth, improved asset quality, lower funding costs, and efficient cost control. $IDFCFIRSTB reported a more than two-fold increase in net profit to ₹1,075 crore for the quarter ended June 2026, driven by robust business expansion, better asset quality, and enhanced operational efficiency. The bank's total advances grew 20.6% year-on-year to ₹3,05,370 crore, supported by strong growth across mortgage, vehicle, consumer, and corporate lending. The retail, agriculture, and MSME portfolio rose 18.2% to ₹2,41,118 crore, while the wholesale loan portfolio expanded 30% to ₹64,252 crore. Customer deposits increased 16.6% YoY to ₹2,99,405 crore, reflecting sustained deposit growth. Meanwhile, the cost of funds declined by 46 basis points to 5.96%, helping improve profitability. The lender said asset quality remained healthy across its retail, rural, and SME businesses, with delinquency trends either stable or showing further improvement. The bank maintained a capital adequacy ratio of 15.05%, with a Common Equity Tier-1 (CET-1) ratio of 13.33%, indicating a strong capital base. Commenting on the results, MD & CEO V. Vaidyanathan said the bank continues to witness strong business momentum and that investments made in strengthening the franchise are now beginning to deliver meaningful results. Investment in securities market are subject to market risks. Read all the related documents carefully before investing,