IDBI Bank Q1 net down 28% at Rs 307 cr
New Delhi: State-owned IDBI Bank Thursday reported 28.1 percent decline in net profit at Rs 306.95 crore for the first quarter ended June, 2013.
The bank had earned net profit of Rs 427.34 crore in the April-June quarter of 2011-12, IDBI Bank informed the BSE.
The total income of the bank rose to Rs 7,445.42 crore in the April-June quarter from Rs 6,789.82 crore in the same period last year.
As of June 30, 2013, IDBI Bank's portfolio quality deteriorated further, with gross non-performing assets (NPAs) rose to 4.34 percent of gross advances as against 3.24 percent in the same quarter of the previous fiscal.
It's net non-performing assets also rose from 2.16 percent from 2.07 percent.
The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 13.35 percent.
Shares of IDBI Bank were trading at Rs 68.60 apiece in the afternoon on the BSE, down 1.22 percent from their previous close.