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IDFC First Bank shares surge as lender posts profit in Q4

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Shares of IDFC First Bank today surged as much as 7% today to ₹20.20 after the lender swung to profit in the March quarter.

IDFC First Bank on Friday reported a consolidated net profit of ₹76.36 crore for January-March 2020. The private sector lender had posted a loss of ₹212 crore during the corresponding January-March quarter a year ago.

Sequentially, there was a net loss of ₹1,631.59 crore in the third quarter ended December 2019. The bank said that in view of accounting for IDFC - CFL (Capital First Ltd) merger from appointed date of October 1, 2018, the figures of the year ended March 31, 2020, are not comparable.

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COVID-19
United States
United States
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Deaths: 750 423
Recovered: 0
India
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Deaths: 459 652
Recovered: 0
Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
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Deaths: 237 619
Recovered: 0
Detail statistic
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