IDBI Bank Q3 Results | Net profit at ₹1,935.5 crore, NII declines 24%

IDBI Bank Ltd. reported its earnings for the third quarter on Saturday, January 17.

Its net profit increased 1.4% to ₹1,935.5 crore from ₹1,908.3 crore in the previous year.

The lender's net interest income (NII) declined 24% to ₹3,209.5 crore from ₹4,228.2 crore in the third quarter of the previous year.

IDBI  Bank's net non-performing assets (NPA) declined to ₹425.3 crore from ₹474.2 crore in the previous quarter.

Its net NPA margin contracted to 0.18% from 0.21% in the previous quarter.

However, its gross NPA increased to ₹6,281 crore from ₹₹6,242 crore in the second quarter. The lender's gross NPA contracted to 2.57% from 2.65% sequentially.

IDBI Bank shares declined 0.44% in the previous session to close at ₹104.39 apiece. The stock has gained 24.3% in the past year.

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