IDBI Bank Q3 earnings: Net profit rises 31%, stock gains 

Shares of IDBI Bank Ltd gained over 4% on Monday after the lender reported a 31% rise in standalone net profit for the December 2024 quarter. Net profit climbed to Rs 1,908 crore in Q3 against Rs 1458 crore in the December 2023 quarter.

The banking stock rose 4.11% intra day to Rs 87.51 on Monday against the previous close of Rs 84.05 on BSE. Total 12.09 lakh shares of the firm changed hands amounting to a turnover of Rs 10.26 crore. Market cap of the lender stood at Rs 92,029 crore. Later, the stock ended 1.83% higher at Rs 85.59 on BSE.

Total income of the bank rose to Rs 8,564.92 crore in the third quarter of the current fiscal from Rs 7,514.27 crore in the year-ago period, IDBI Bank said.

Net Interest Income (NII) rose 23.1 percent to Rs 4228.22 crore in Q3 against Rs 3434.47 crore in the corresponding quarter of FY24.

Gross Non-Performing Assets (NPA) moderated to 3.57 percent in Q3 against 4.69 percent of the total advances at the end of December 2023. Similarly, net NPAs fell marginally to 0.18 percent against 0.34 percent at the end of December 2023 quarter.

Provisions and contingencies in Q3 fell to Rs 165.60 crore against Rs 319.85 crore on a year on year
basis. Net Interest Margin (NIM) stood at 5.17 percent in the third quarter of 2024-25.

Total deposits rose to Rs 2,82,439 crore in the last quarter against Rs 2,58,442 crore as on December 31, 2023, clocking a growth of 9 percent.