India's IDFC FIRST Bank hits 5-month high after Q1 profit more than doubles

IDFC First Bank

27/07/2026 05:39

** IDFC FIRST Bank IDFB.NS shares rise 6.4% to 85.96 rupees, hitting highest since February 
** Q1 profit after tax jumps 132.4% to 10.75 billion rupees  ($111.7 million), the bank's highest ever; total income rises 12.6% 
** Co's total customer business (loans + customer deposits) increases 18.6% YoY  
** "We are seeing strong business momentum" - CEO
** Stock trades at forward 12-month PE of 16.03 vs industry median of 10.25
** "The key positive, in our view, was asset quality, with gross and net slippage ratio declining," - brokerage CLSA 
** 11 of 21 brokerages rate the stock "buy" or higher, 6 "hold" and 4 "sell" or lower; their median PT is 84 rupees - LSEG-compiled data 
** YTD, IDFB up 0.9% vs 4.02% decline in Nifty Bank Index .NSEBANK


($1 = 96.2525 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))