Wednesday, August 12, 2015

IDBI Q1 net up 27% at Rs 135 crore

Public sector lender IDBI Bank's net profit for the first quarter ended June 2015 rose by 27% at Rs 135 crore on substantial rise in net interest income (NII).
It had posted a net profit Rs 106 crore in April-June 2014.

IDBI stock was trading at Rs 63 per share, down 3% over previous close, on Bombay Stock Exchange.

Its NII, a difference between interest earned and expended, rose by 20% at Rs 1,495 crore in Q1 of FY16 from Rs 1,250 crore in Q1 of FY15.

While its income profile improved the asset quality continued stay under pressure. The gross non-performing assets rose to 6.64% (R 14,112 crore) in June 2015 from 5.64% 9Rs 10,763 crore). Its provisions and contingencies rose to Rs 878 crore from Rs 776 crore a year ago.

The Capital Adequacy Ratio under Basel III was 11.74% in June 2015 as against 11.78% June 2014.


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