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New Delhi: State-owned IDBI Bank reported a 60 per cent jump in fiscal revenue for the July-September quarter ended December 31, 2022 and a net profit of Rs 927 crore.
Currently, IDBI Bank is majority owned by the Central Government and LIC. It has been revealed that the government has decided to sell it. Meanwhile, it is noteworthy that IDBI Bank has made a net profit of Rs.578 crore in the October-December quarter of 2021.
The bank’s net interest income rose 23 percent to Rs 2,925 crore in the third quarter of the current fiscal. This was Rs 2,383 crore in the same period last fiscal.
The bank’s non-performing asset ratio has come down to Rs 233 crore in the December quarter from Rs 939 crore in the December quarter of last fiscal.
As a result, shares of IDBI Bank rose 0.73 percent to trade at Rs 55 on the BSE.