Global Markets
Home›Global Markets›North America›IDFC First Bank shares rise after record Q1FY27 profit
IDFC First Bank shares rise after record Q1FY27 profit
The bank reported profit after tax of ₹1,075 crore for April to June 2026, up 132.4% year on year, alongside stronger asset quality with gross NPA at 1.5% and net NPA at 0.4%.
IDFC First Bank shares extended their post earnings rally on Tuesday, 29 July, after the private lender reported what it described as its highest ever quarterly profit for the first quarter of FY27, driven by both earnings growth and improving credit metrics. The bank posted profit after tax of ₹1,075 crore for the April to June 2026 quarter, a 132.4% year on year increase from ₹463 crore. Total customer business rose 18.6% year on year to ₹6,04,776 crore as of 30 June 2026, while loans and advances climbed 20.6% to ₹3,05,370 crore, reflecting credit growth. Asset quality also strengthened, with gross non performing assets improving to 1.51% as of 30 June 2026 from 1.97% a year earlier. Net NPA fell to 0.44% from 0.55%, and net interest margin expanded to 5.96% from 5.71% in the year ago quarter, according to the bank’s regulatory filing, as cited by LiveMint. Following the results, Nuvama Institutional Equities upgraded IDFC First Bank to a Buy rating from Hold, pointing to improving fundamentals and stronger earnings visibility, while expecting growth momentum to accelerate as earlier pressure in microfinance and credit cards fades. The brokerage raised its target price to ₹95 per share, and said the bank plans to raise ₹7,500 crore in capital, about 2.1% of risk weighted assets, to support future growth.