Thursday, 11 August 2016

IDBI Bank Q1 profit up 78%

IDBI bank has declared the results for April-June 2016 quarter. It's profit has increased by 78.3% to Rs 241.1 crore compared with Rs 135.2 crore in last year period.

Net Asset income, the difference between interest earned and interest expended, grew by 14.2% to Rs 1706.5 crore.

In absolute terms, Gross NPA jumped 9.6% to Rs 27,275 crore and net NPA 11% to Rs 16,248 crore on sequential basis.

It has tax credit of Rs 1206.5 crore against Rs 1119 crore in preceding quarter and expense of Rs 124 crore in corresponding period of last fiscal.

The stick closed at Rs 68.35 up 2.40% on the Bombay Stock Exchange.

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