IDFC First Bank posts Rs 218 cr loss in Q4 – Moneycontrol

0
43
IDFC First Bank posts Rs 218 cr loss in Q4 – Moneycontrol


Closing Up to this point : Might perhaps 10, 2019 10: 56 PM IST | Provide:PTI

The monetary institution 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 interval.

IDFC First Bank Might perhaps 10 reported an absence of Rs 218.03 crore for the quarter ended March 2019 against a profit of Rs 41.93 crore in the corresponding interval of the final fiscal on myth of increased provisioning.

On an annual foundation, it reported an absence of Rs 1,944.17 crore as against a profit of Rs 859.3 crore at some level of 2017-18, the monetary institution acknowledged in a stock exchange filing.

The monetary institution’s rude NPAs stood at 2.43 per cent of the rude advances at some level of the January-March quarter of 2018-19, down from 3.31 per cent in the corresponding interval of the final fiscal.

The monetary institution 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 interval.

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

At some stage in the year ended March 31, 2019, the monetary institution received earnings tax orders touching on to a matter below enchantment ensuing in write-support of tax provision for earlier years of Rs 89.01 crore.

At some stage in the year ended March 31, 2018, it had received favourable earnings tax orders touching on to a matter below scrutiny by tax department, which has resulted in write-support of tax provision for earlier years of Rs 62.57 crore and it has remeasured the deferred tax sources at appropriate tax rates, which resulted in tax credit ranking of Rs 77.43 crore, the monetary institution acknowledged.

First Published on Might perhaps 10, 2019 10: 48 pm

Be taught More

This site uses Akismet to reduce spam. Learn how your comment data is processed.