Highlights of Q3 FY22 Results

Q3-FY22 results: Profitability Section 5A Management Commentary on Q3 FY22 Results Contd.. Trading gains were lower at Rs. 25 crores during Q3-FY22 on account of increase in yields and market volatility, as compared to Rs. 269 crores during Q3-FY21 and Rs. 122 crores in the previous quarter. Operating Expenses ◉ Operating Expense grew 30% YOY at Rs. 2,579 crore for Q3-FY22 as compared to Rs. 1,991 crore for Q3-FY21 on account of increased business activities and lower base last year due to subdued economic activity due to COVID. Provisions Provisions was lower by 32% on a Y-o- Y basis at Rs. 392 crore in Q3-FY22 as compared to Rs. 574 crore in Q3-FY21. • During the quarter, the Bank has released entire provision of Rs. 487 crore held on one large telecom account pursuant to timely bond redemptions of Rs. 2,000 crore made by the account which were due in Dec 21/ Jan 22. • During the quarter, Provision Coverage Ratio of the Bank has been increased from 52.06% as on September 30, 2021 to 57.06% as on December 31, 2021 which will strengthen the Balance sheet. • The Bank has made additional provisions on legacy corporate / infrastructure account amounting to ~Rs. 250 crores . During the quarter, the bank has not utilized any Covid provision created earlier and carries forward Covid Provisions of Rs. 165 crore as on December 31, 2021. 45 IDFC FIRST Bank

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