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IDBI Bank reports around 4-fold jump in Q4 consolidated net profit

04 May 2021

IDBI Bank has reported results for fourth quarter and year ended March 31, 2021.

The bank has reported around 4-fold jump in its net profit at Rs 512.20 crore for the quarter under review as compared to Rs 135.39 crore for the same quarter in the previous year. Total income of the bank increased by 0.54% at Rs 6,962.59 crore for Q4FY21 as compared Rs 6,924.94 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported around 4-fold jump in its net profit after minority interest and share of loss in associate at Rs 629.05 crore for the quarter under review as compared to Rs 163.60 crore for the same quarter in the previous year. Total income of the bank increased by 0.59% at Rs 7,052.18 crore for Q4FY21 as compared Rs 7,010.74 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the bank has reported net profit of Rs 1,359.46 crore against net loss of Rs 12,887.34 crore for the previous year. Total income of the bank decreased by 2.92% at Rs 24,556.93 crore for year under review as compared to Rs 25,295.47 crore for year ended March 31, 2020.

For the year ended March 31, 2021, on the consolidated basis, the bank has reported a net profit after minority interest and share of loss in associate of Rs 1,513.97 crore against net loss of Rs 12,835.24 crore for the previous year. Total income of the bank decreased by 2.68% at Rs 24,803.63 crore for year under review as compared to Rs 25,485.45 crore for year ended March 31, 2020.

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