IDFC First bank shares decline nearly 8 pc; hit 52-week low

Mon, 27 January 2025

11:51

Shares of IDFC First Bank declined nearly 8 per cent on Monday morning after the firm posted a 53 per cent decline in net profit at Rs 339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans.

The company's stock plunged 7.7 per cent each to hit a 52-week low of Rs 57.45 and Rs 57.46 apiece on both NSE and BSE, respectively. IDFC First Bank on Saturday reported a 53 per cent decline in net profit at Rs 339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans. The private sector lender had earned a net profit of Rs 716 crore in the same quarter a year ago. -- PTI

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