IDFC First Bank Q1 profit tops 1,000 cr

IDFC First Bank reported Q1 net profit exceeding Rs 1,000 crore, more than doubling from Rs 463 crore a year ago. Net Interest Income rose 21% year-on-year to Rs 5,972 crore, while ROA improved to 1.06% from 0.54% and NIM expanded to 5.96% from 5.71%. Loans and advances grew 20.6% YoY to Rs 3.05 lakh crore, driven by mortgage, vehicle, corporate and consumer loans.