Comments
IDBI Bank today said its net profit fell by 38 per cent to Rs 118.49 crore in the second quarter ended September 30 in the current financial year on higher employee cost and provisioning.
The bank’s net profit during the same quarter a year ago stood at Rs 192.27 crore.
The bank made provisioning towards bad loans of Rs 990.47 crore during July-September, 2014—15; up from Rs 878.72 crore in the same quarter of 2013—14.
Meanwhile, employee cost went up to 497.31 crore during the quarter from Rs 360.49 crore a year earlier.
“Total income has increased from Rs 7,114.44 crore to Rs 7,610.52 crore for the quarter ended September” it said in a BSE filing.
The non-performing assets (NPAs) rose to 5.72 per cent in Q2—FY15, from 4.98 per cent year ago.
Net NPAs, however, reduced to 2.79 per cent of total advances as of September 30, from 2.82 per cent year earlier.
IDBI Bank shares closed at Rs 70.55 apiece on the BSE today, up 3.37 per cent from the previous close.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.