IDBI Bank had posted a 31% year-on-year growth in consolidated net profit to ₹1,908 crore for Q3 FY25, as against ₹1,458 crore in the same quarter last year.
Gross NPA increased to ₹7,653.1 Crore from ₹7,795.4 Crore in the previous quarter, but net NPA decreased to ₹401.6 Crore from ₹453.6 Crore.
The sale of the impaired portfolio represents a 10.5% recovery for IDBI Bank, which will be shown in its second-quarter profits.
The government might receive more than ₹31,700 crore from the sale of a 30.48% stake in IDBI Bank, according to Wednesday's BSE share price.
The privatisation of IDBI Bank has been anticipated for years, with market watchers closely monitoring the central bank's assessment of bidders.
The government and the Life Insurance Corporation (LIC) own 94.72% of IDBI Bank, with LIC owning 49.24% and the government owning 45.48%.
Quarter-on-quarter (QoQ) growth in total business was 1.13%, reaching ₹4,71,563 Crore in Q1 FY25 from ₹4,66,278 Crore on 31 March 2024.
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