IDBI Bank Q2 net flat at Rs 119.5 cr

Wednesday, Nov 4, 2015,13:34 IST By Metrovaartha A A A

New Delhi | IDBI Bank today said its net profit remained almost flat at Rs 119.5 crore for the second quarter ended September 30.

The bank reported a net profit of Rs 118.49 crore during the same period last fiscal. Total income of the bank increased to Rs 7,913.64 crore during the reported quarter as against Rs 7,610.52 crore in the year-ago period, it said in a filing to BSE.

IDBI’s gross non-performing assets (NPAs) rose to 6.92 per cent of gross advances during the quarter as against 5.72 per cent in the same period of previous fiscal. Also, net NPAs or bad loans moved up to 3.16 per cent from 2.79 per cent in the year-ago period.

Thus, provisions for bad loans and contingencies too surged to Rs 1,289.31 crore from Rs 990.47 crore a year ago. Shares of IDBI Bank traded 0.41 per cent lower at Rs 84.25 apiece on BSE.