IDBI Bank clocks Rs 144 crore profit in Q1

The private sector bank posted a net loss of Rs 3,800.84 crore for April-June 2019-20. In the preceding March quarter, the bank logged a profit of Rs 135.39 crore.

July 28, 2020 / 06:29 PM IST
 
 
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IDBI Bank on Tuesday reported a standalone net profit of Rs 144.43 crore for June quarter of 2020-21 financial year.

The private sector bank posted a net loss of Rs 3,800.84 crore for April-June 2019-20. In the preceding March quarter, the bank logged a profit of Rs 135.39 crore.

Total income fell slightly to Rs 5,901.02 crore in April-June 2020-21 from Rs 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 Rs 6,924.94 crore.

The bank's asset quality improved with gross non-performing assets (NPAs) falling to 26.81 percent of the gross advances as at June 30, 2020 from 29.12 percent by June 2019.

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Net NPAs or bad loans came down to 3.55 percent from 8.02 percent.

The bank's provisions for bad loans and contingencies stood at Rs 888.05 crore in June quarter, down substantially from Rs 6,332.05 crore in the year-ago period.

On a consolidated basis, the bank had a net profit of Rs 159.14 crore in June 2020 quarter. It reported a loss of Rs 3,821.26 crore for the year-ago period.

The consolidated income rose a tad to Rs 5,955.17 crore from Rs 5,927.76 crore.

IDBI Bank stock closed at Rs 38.70 on BSE, up 4.88 percent from the previous close.
PTI
first published: Jul 28, 2020 05:55 pm

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