IDFC FIRST Bank: Quarterly Income and Business Overview
Section 4: Income Statement - For the year ended March 31, 2021
In Rs. Crore
Interest Income
Interest Expense
Net Interest Income
Fee & Other Income
Operating Income (Excl Trading Gain)
FY20
FY21
Growth (%)Y-o-Y
16,308
15,968¹
-2%
10,232
8,588
-16%
6,076
7,380
21%
1,550
1,622
5%
7,625
9,002
18%
Trading Gain
612
1,204
97%
Operating Income
8,237
10,207
24%
Operating Expense
5,861
7,093
21%
Pre-Provisioning Operating Profit (PPOP)
2,376
3,113
31%
Core PPOP (Ex. Trading gain and Interest on interest reversal)
1,764
1,964
11%
Provisions
4,754
2,6382,3
-45%
Profit Before Tax
Tax
Profit After Tax
1. Includes reversal of Interest on Interest Rs. 55 crore in Q4 FY21 following the Supreme Court order
(2,379)
486
(2,864)
4764
245
-95%
452
2. Earlier, Capital First had portfolios of Loan Against Shares with ticket sizes above Rs. 20 lac and Loans with annual interest payments, which were permitted for an NBFC, but not permitted in
the Bank. On merger with the Bank, the dispensation was provided by the RBI for the said portfolio which is no longer available. Because of the same, the Bank was required to make 100%
provision to this outstanding portfolio, and the provisions on this count amounted to Rs. 89 crore in Q4-FY21.
3.
4.
The provisions included the reversal of provisions of Rs. 324 crores on account of one large telecom account. The Bank created COVID 19 provisions for Rs. 375 crores and carried it into FY 22.
Without the impact of the point 1 and 2 mentioned above, the PBT for FY21 would be Rs. 620 crore and with normalized tax rate, the corresponding PAT would be Rs. 464 crore for FY21
5. Includes de-recognition of DTA on goodwill pursuant to recent changes in Finance Act and benefit on account of DTA reassessment at March 31, 2021
Section 4: Key Business & Financial Parameters
45
IDFC FIRST
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