(Reuters) - Private sector lender IDFC Bank Ltd reported a nearly 24 percent fall in its quarterly profit on Friday, hurt by higher expenses.
Net profit for the quarter, ended Dec. 31, came in at 1.46 billion rupees ($22.91 million) compared with 1.91 billion rupees a year ago. bit.ly/2rm3qEi
Gross bad loans as a percentage of total loans stood at 5.62 percent at end-December, compared with 3.92 percent in the preceding quarter and 7.03 percent a year ago.
($1 = 63.7275 Indian rupees)
Reporting By Arnab Paul in Bengaluru; Editing by Sherry Jacob-Phillips