Public sector lender IDBI Bank's net profit for fourth quarter ended March 2015 rose by 5.2% to Rs 545 crore on the subdued growth in interest income and higher provisions slippages.
It had posted a net profit of Rs 518 crore in January-March 2014 (Q4 of Fy14). IDBI stock closed at Rs 66.75 per share down by 1.84% over previous close on the Bombay Stock Exchange.
The Board of Directors has recommended dividend of Rs 0.75 per share for 2014-15.
The net profit for FY15 declined to Rs 873 crore from Rs 1,121 crore in Fy14.
The net interest Income (NII) for the reporting quarter was up five% at Rs 1,660 crore from Rs 1,574 crore in Q4 of Fy14.
The other income comprising fees, sale of investments rose to Rs 1,970 crore in Q4 of Fy15 from Rs 1,150 crore in Janaury-March 2014.
The asset quality remained under pressure on repayment delays. The gross non-performing assets (GNPAs) stood at 5.88% as on March 2015 from 4.90% in March 2014. However, the GNPAs were down when compared to 5.94% level in the third quarter ended December 2014.
Bank's provisions including that for non-performing loans in Q4 of FY 15 were up 43.3% to Rs 1,717 crore up from Rs 1,198 crore year ago period. The capital adequacy ratio under Basel III was 11.76% at the end of March 2015.
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