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Public sector lender IDBI Bank’s net profit for the fourth quarter ended March 2015, rose 5.2 per cent to Rs 545 crore on subdued growth in interest income and higher provision slippages.
It had posted a net profit of Rs 518 crore in January- March 2014 (the fourth quarter of FY14). IDBI stock closed at Rs 66.75 per share down by 1.84 per cent over previous close on the BSE.
The board of directors has recommended dividend of Rs 0.75 per share for 2014-15.
The net profit for FY15 declined to Rs 873 crore from Rs 1,121 crore in FY14.
The net interest income (NII) for the reporting quarter was up five per cent at Rs 1,660 crore from Rs 1,574 crore in the fourth quarter of FY14.
The other income comprising fees, sale of investments rose to Rs 1,970 crore in the fourth quarter of FY15 from Rs 1,150 crore in Janaury-March 2014.
The asset quality remained under pressure on repayment delays. The gross non-performing assets stood at 5.88 per cent as on March 2015 from 4.90 per cent in March 2014. However, the GNPAs were down when compared to 5.94 per cent level in the third quarter ended December 2014.
The bank’s provisions, including that for non-performing loans in Q4 of FY 15 were up 43.3 per cent to Rs 1,717 crore up from Rs 1,198 crore year ago period. The capital adequacy ratio under Basel III was 11.76 per cent at the end of March 2015.
