For FY19, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing

IDFC First Bank plunged over 8 percent in the morning trade on May 13 after the bank reported a loss of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding period of the last fiscal on account of higher provisioning.

Reacting to the news, shares of IDFC First Bank slipped over 8 percent in morning trade.

For FY19, it reported a loss of Rs 1,944.17 crore as against a profit of Rs 859.3 crore during 2017-18, the bank said in a stock exchange filing.

The bank’s gross NPAs stood at 2.43 percent of the gross advances during the January-March quarter of 2018-19, down from 3.31 percent in the corresponding period of the last fiscal.

The bank made a provision of Rs 698.2 crore in the fourth quarter of 2018-19, up from Rs 242.45 crore in the corresponding year-ago period.

Its total income stood at Rs 3,944.99 in the quarter ended March 2019 as against Rs 2,374.34 crore earlier.

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