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Shares of IDFC Bank Ltd rose as much as 6.5 per cent to its highest since February 23.
At about 10.20 am, the stock was trading up 4.12 per cent or Rs 2.45 at Rs 61.90.
The stock is on track to record its biggest intra-day percentage gain since December 27, 2016.
March quarter profit rose 7 per cent, helped by higher interest income and a drop in provisions for bad loans.
Gross bad loans as a percentage of total loans fell to 2.99 per cent in the fourth quarter, from 7.03 per cent in the previous quarter, the company said on Tuesday.
The stock has fallen 1 per cent this year, up to Tuesday's close.
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