IDBI Banks' Q1 net profit up 33.61% | business | Hindustan Times
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IDBI Banks' Q1 net profit up 33.61%

Lending major IDBI Bank today reported an increase of 33.61% in its net profit for the first quarter of the current fiscal at Rs 335.1 crore as compared to Rs 250.8 crore in the like period of 2010-11.

business Updated: Jul 30, 2011 16:06 IST

Lending major IDBI Bank on Saturday reported an increase of 33.61% in its net profit for the first quarter of the current fiscal at Rs 335.1 crore as compared to Rs 250.8 crore in the like period of 2010-11.

"The bank has posted a net profit of Rs 3,351 million for the quarter ended June 30, 2011 as compared to Rs 2,508.9 million for the quarter ended June 30, 2010," the company said in a regulatory filing to the Bombay Stock Exchange (BSE).

The total income of the company increased by 27.44% at Rs 6,059.83 crore in the quarter under review as against Rs 4,755.02 crore in the corresponding period of last fiscal.

"Total income has increased from Rs.4,755.02 million for the quarter ended June 30, 2010 to Rs 6,059.83 million for the quarter ended June 30, 2011," the company said.

Meanwhile, the company reported an increase in its gross non-performing assets (NPA) at 2.10% as against 1.94% in the like quarter of 2010-11.

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