Public sector lender IDBI Bank’s net profit for the fourth quarter ended March 2015 rose 5 per cent to ₹546 crore, limited by subdued growth in interest income and higher provision for slippages.
It had posted a net profit of ₹518 crore in the fourth quarter of FY14.
Sequentially, the profit has jumped more than five-fold, from ₹103 crore in Q3 FY15.
Net interest income, the difference between interest expended over interest earned, rose to ₹1,660 crore as compared with ₹1,575 crore in Q4 FY14. The other income (including income from fees and sale of investments) jumped 71 per cent to ₹1,970 crore in the fourth quarter of FY15 from ₹1,150 crore in the year-ago period.
The bank’s provisions towards non-performing loans rose 43 per cent to ₹1,717 crore up from ₹1,198 crore in the year-ago period.
NPAs move upThe bank’s gross non-performing assets (GNPA) as a percentage of total advances deteriorated to 5.88 per cent from 4.90 per cent a year ago.
Sequentially, however, the GNPA improved from 5.94 per cent.
Similarly, net NPA increased to 2.88 per cent as on March-end 2015 from 2.48 per cent as on March-end last year but fell from 3.05 per cent in the December quarter.
For the full year FY15, net profit declined 21 per cent to ₹873 crore from ₹1,121 crore in FY14.
The IDBI Bank board recommended a dividend of ₹0.75 a share for 2014-15.
The shares of IDBI Bank ended 5.8 per cent higher at ₹70.65 apiece on the BSE on Wednesday.
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.