IDFC Bank first-quarter profit rises 65 percent; bad loans ratio falls

IDFC Bank reported a 65 percent rise in quarterly profit on Thursday, helped by higher interest income and as the bad loans ratio fell from a year earlier.

Net profit rose to 4.38 billion rupees ($68.31 million) in its fiscal first quarter ended June 30 from 2.65 billion rupees a year earlier, the bank said. http://bit.ly/2v05nqx

Gross bad loans as a percentage of total loans rose to 4.13 percent at end-June from 2.99 percent at March-end, but fell from 6.09 percent from June-end 2016. ($1 = 64.1200 Indian rupees)

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