Aided by strong growth of treasury income and other income IDBI Bank recorded a 56 per cent rise in the net profit to Rs 253.74 crore during the quarter ended September 30, 2009 as compared to Rs 162.48 crore during the quarter ended September 30, 2008.
Total Income increased from Rs 3017.56 crore during the quarter ended September 30, 2008 to Rs 4282.84 crore during the quarter ended September 30, 2009.
Other income increased by 33 per cent to Rs 5.62 crore during the quarter ended September 2009. The bank’s profit from treasury stood at Rs 29.41 crore as against a loss of Rs 8.30 crore.
The bank’s capital adequacy ratio stood at 11.90 per cent at the end of September 2009 as against 11.57 per cent during the corresponding period last year.
Net non-performing assets of the company declined to 1.19 per cent as compared to 1.28 per cent during the corresponding period last year.
The bank increased its provisions from Rs 1 crore to Rs 3 crore as the amount of gross and net NPAs went up. The amount of net NPA went up from Rs 16.52 crore to Rs 18.44 crore while net NPA went up from Rs 11.27 crore to Rs 12.52 crore during the quarter ended September 2009.
At BSE, the bank’s shares were trading at Rs 131.40 at 3:18 pm up 2.70 per cent from the previous close.
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