A jump in provisions towards bad loans proved to be drag on IDFC Bank's bottomline, with net profit declining 21 per cent year-on-year to Rs 191 crore in the third quarter ended December 31, 2016, as against Rs 242 crore in the year-ago quarter.

Net interest income, which is the difference between interest earned and interest expended, was up 35 per cent at Rs 521 crore (Rs 386 crore in the year-ago quarter).

Other income, including commission, fees, earnings on foreign exchange and derivatives transactions jumped 54 per cent to Rs 335 crore (Rs 218 crore).

Provisions (other than tax) and contigencies shot up to Rs 232 crore (Rs 12 crore). The tax expense burden was down to Rs 53 crore (Rs 134 crore).

As at December-end 2016, gross non-performing assets as a percentage of gross advances rose to 7.03 per cent from 3.09 per cent as at December-end 2015.

IDFC Bank shares closed at Rs 65.55 apiece, up 2.90 per cent over the previous close on the BSE.