IDFC First Bank shares fall over 12pc after Q4 earnings

Shares of IDFC First bank, which was set up by the merger of Capital First & IDFC Bank recently,  fell over 10pc after the company reported a loss of Rs218.03crore for the Q4FY19 against a profit of Rs41.93-crore, year-on-year.

The merged bank’s gross NPAs was reported at 2.43pc of the gross advances during the Jan-March quarter of 2018-19, down from 3.31pc in the corresponding period of the last fiscal.

For the entire FY-2018-19, IDFC First Bank reported a net loss of Rs.1944-Crore as compared to a net profit of Rs859.3-crore, including increased goodwill amortization on merger of Rs2,599-crore and tax credits of Rs1,351-crore, the bank said.

At 3.00pm, the stock price IDFC First bank was at Rs43.15 per share, down 12.21pc, while the Nifty50 was trading at 11,184.60, down 94.30points and the Sensex fell 232 points at 37,230.83.

For Better Stock Trading, Go On Our Hni Stock Future Tips and Intraday Cash Tip

Please follow and like us: