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IDBI Bank reports 66% rise in Q4 consolidated net profit

29 Apr 2023 Evaluate

IDBI Bank reported results for fourth quarter (Q4) and year ended March 31, 2023.

IDBI Bank has reported 64.11% rise in its net profit at Rs 1,133.37 crore for the quarter under review as compared to Rs 690.60 crore for the same quarter in the previous year. Total income of the bank increased by 28.87% at Rs 7,013.84 crore for Q4FY23 as compared to Rs 5,442.55 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 65.63% rise in its net profit at Rs 1,216.81 crore for fourth quarter ended March 31, 2023 as compared to Rs 734.66 crore for the same quarter in the previous year. Total income of the bank increased by 28.96% at Rs 7,133.43 crore for Q4FY23 as compared to Rs 5,531.39 crore for the corresponding quarter previous year.

For the year ended March 31, 2023, the bank has reported 49.43% rise in its net profit at Rs 3,645.09 crore as compared to Rs 2,439.27 crore for the previous year. Total income of the bank increased by 8.53% at Rs 24,941.76 crore for year under review as compared to Rs 22,981.80 crore for year ended March 31, 2022.

For the year ended March 31, 2023, on the consolidated basis, the bank has reported 46.27% rise in its net profit at Rs 3,706.06 crore as compared to Rs 2,533.67 crore for the previous year. Total income of the bank increased by 8.31% at Rs 25,166.91 crore for year under review as compared to Rs 23,235.02 crore for year ended March 31, 2022.

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