Dragged down by Mumbai toll waiver, IDFC First Bank’s net profit drops 73%

IDFC First Bank’s Q2 net profit dropped by over 73% to Rs 201 crore, primarily due to a Rs 253-crore provision following Maharashtra government’s toll waiver decision. The net interest income increased by 21% to Rs 4,788 crore, while deposits rose by 32.4% to Rs 2,18,026 crore.