IDBI Bank Q2 net profit at Rs 324 cr vs Rs 3,459 cr loss a year ago

Net interest income up 4% to Rs 1,695 cr, NIM improves by 37 bps to 2.7%

Private sector lender IDBI Bank posted a net profit of Rs 324.4 crore in the second quarter ended September 30, 2020 (Q2FY21) as against net loss of Rs 3,458.84 crore in Q2FY20.

Its net interest income (NII) for Q2-2021 improved rose by four per cent to Rs 1,695 crore as against Rs 1,631 crore for Q2-2020. The net interest margin (NIM) improved by 37 bps to 2.7 per cent for Q2FY21 from 2.33 per cent a year ago.

The IDBI Bank stock closed 1.4 per cent higher at Rs 39.75 per share on BSE. The bank is under the prompt