IDFC First Bank expects profit momentum to sustain

IDFC First Bank posted its highest-ever quarterly profit of Rs 1,075 crore in Q1 FY27, driven by falling credit costs and lower cost of funds. MD & CEO V Vaidyanathan said the performance is sustainable for the rest of the year, though the bank has built precautionary provisions of Rs 500 crore against monsoon and oil price risks. He targets credit cost reduction to 1.5-1.6% and NIM around 5.8% for FY27.