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IDBI Bank Q2 consolidated net at Rs 337.11 cr IDBI Bank

IDBI Bank Q2 consolidated net at Rs 337.11 cr

India Blooms News Service | @indiablooms | 23 Oct 2020, 06:08 pm

Mumbai/UNI: Private sector lender IDBI Bank has posted net profit of Rs 337.11 crore for the quarter ended September 30, 2020 as against net loss of Rs 3443.60 crores for the quater ended September 30, 2019.

However, total income for the quarter fell by 7.5 pc to Rs.5808.43 crores as compared to Rs 6279.71 crores during the period ended September 30, 2019.

Net interest income (difference between interest earned and interest expended) edged up 4 per cent year-on-year to Rs 1,695 crore as compared to Rs 1,631 crore for the quarter ended September 30, 2019.

Other income, comprising income from non-fund based banking activities such as commission, fees, earnings from foreign exchange and derivative transactions, profit and loss from sale of investments and recoveries from written off accounts, too nudged up 4 per cent to Rs 1,072 crore as compared with Rs 1,033 crore for the quarter ended September 30, 2019.

Operating profit was up 23 per cent at Rs 1,246 crore from Rs 1,009 crore.

Gross non-performing assets (NPAs) declined to 25.08 per cent of gross advances as at September-end 2020 against 29.43 per cent as at September-end 2019.

Net NPAs declined to 2.67 per cent of net advances as at September-end 2020 against 5.97 per cent as at September-end 2019.