The Industrial Development Bank of India (IDBI) has reported a 77.2 per cent dip in its net profit to Rs 35.2 crore for the quarter ended December 31, 2001. The net profit for the corresponding quarter in the previous year was at Rs 154.8 crore.
The net profit for the nine-month period (April-December 2001) was down 55.39 per cent to Rs 242.3 crore from Rs 543.2 crore in the corresponding period of last year.
IDBI has attributed the decline in net profit to twin factors