IDBI 6-month net at Rs 318cr

Industrial Development Bank of India (IDBI) has posted a consolidated net profit of Rs 318.57 crore for the six-month period ended March 31, 2005.

According to a release issued by the bank to the BSE today, the six-month, consolidated, total income stood at Rs 3,352.45 crore.

"In the light of the earlier accounting period being for 18 months extending up to the end of 1st half year of the current financial year 2004-05, the current accounting period pertaining to the merged entity is of six months, coterminus with the second half year of the same financial year ending March 31, 2005. Further, the accounts for the accounting period is for the merged entity incorporating the operations of erstwhile IDB Bank. Hence, results for the current accounting period are not comparable to that of the previous year," the release added.

The board has recommended a dividend of 75 paise per share for the six months under review, the release said.