💨 Abstract

IDFC First Bank's shares fell by 7% to a 21-month low after reporting a more than halved profit in the third quarter due to increased bad loan provisions in the microfinance business. Gross slippages in the microfinance segment surged nearly 49% on-quarter to 4.37 billion rupees. Analysts expect the microfinance sector to continue affecting earnings for the next three to four quarters.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖