Mumbai: IDBI Bank has posted net profit a Jump of 230.70 per cent in its consolidated net profit for the quarter ended March 31, 2021 at Rs 547.93 crores as against net profit of Rs 165.69 crores for the quarter ended March 31, 2020.
Total income for the quarter under review was marginally up by 0.59 per cent to Rs.7052.18 crore as compared to Rs 7010.74 crore for the quarter ended March 31, 2020.
Bank’s net interest income or the difference between interest earned and interest expended jumped 37.5 per cent to Rs 3,240 crore from Rs 2,356.27 crore during the same period last year.
Net interest margin (NIM) for Q4 FY 21 at 5.14 per cent, improved by 134 basis points on annual basis.
Its bad loans or gross non-performing assets (NPA) as a percentage of total advances came in at 22.37 per cent compared with 23.52 per cent in the previous quarter.
Total gross NPAs came in at Rs 36,211.95 crore compared with Rs 37,559.39 crore in the same quarter last year.
For the financial year ended March 31, 2021 Bank has posted net profit of Rs 1448.67 crores as against net loss of Rs 12847.40 crores for the year ended March 31, 2020.
However, total income for the financial year ended March 31, 2021 fell by 2,68 per cent to Rs 24803.63 crores as compared to Rs 25485.45 crores during the finanacial year ended.