IDFC First Bank shares soar 9% after Q1 profit jumps 132% to Rs 1,075 crore. What are analysts saying?

IDFC First Bank share price gained 9% after it reported its highest-ever quarterly profit after tax of Rs 1,075 crore. Net interest income rose 21.1% year-on-year, and net interest margin also improved. Gross non-performing assets fell to 1.51%, showing further improvement in asset quality. The bank received claims worth Rs 514.8 crore under the CGFMU scheme. Management remains focused on building a high-quality banking institution with strong governance.

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