Comments
IDBI Bank on Tuesday reported a standalone net profit of ₹144.43 crore for June quarter of 2020-21 financial year.
The private sector bank posted a net loss of ₹3,800.84 crore for April-June 2019-20. In the preceding March quarter, the bank logged a profit of ₹135.39 crore.
Total income fell slightly to ₹5,901.02 crore in April-June 2020-21 from ₹5,923.93 crore in the same quarter of the last fiscal, IDBI Bank said in a regulatory filing.
In March quarter, the income was ₹6,924.94 crore.
The bank’s asset quality improved with gross non-performing assets (NPAs) falling to 26.81 per cent of the gross advances as at June 30 from 29.12 per cent by June 2019.
Net NPAs or bad loans came down to 3.55 per cent from 8.02 per cent.
The bank’s provisions for bad loans and contingencies stood at ₹888.05 crore in June quarter, down substantially from ₹6,332.05 crore in the year-ago period.
On a consolidated basis, the bank had a net profit of ₹159.14 crore in June quarter. It reported a loss of ₹3,821.26 crore for the year-ago period.
The consolidated income rose a tad to ₹5,955.17 crore from ₹5,927.76 crore.
IDBI Bank stock closed at ₹38.70 on BSE, up 4.88 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.