IDBI Bank clocks 25% yoy growth in PAT at Rs756 crore; NII reported at Rs2,488 crore

22 Jul 2022 , 02:50 PM

IDBI Bank announced results for the quarter ended June 30, 2022, and has reported substantial growth during the period.

The company reported a Net Profit of Rs756 crore in Q1FY23, up by 25% yoy against Rs691 crore in the previous corresponding quarter.

Company stated that PBT improved by 7% yoy at Rs1,093 crore in Q1FY23 as compared to Rs1,024 crore for Q1FY22. PBT for Q4-2022 stood at Rs844 crore.

Operating Profit for Q1FY23 was reported at Rs2,052 crore as against Rs2,868 crore in the previous corresponding quarter.

Net Interest Income for Q1FY23 was reported at Rs2,488 crore as against Rs2,506 crore for Q1FY22. NII stood at Rs2,420 crore for Q4FY22.

Net Interest Margin (NIM) stood at 4.02% for Q1FY23 as compared to 4.06% for Q1FY22. NIM stood at 3.97% for Q4-2022.

CASA improved to Rs1,25,356 crore as on June 30, 2022, up by 8% yoy as against Rs1,16,595 as on June 30, 2021. CASA stood at Rs1,32,359 crore as on March 31, 2022.

Net advances grew by 12% yoy at Rs1,38,046 crore as on June 30, 2022. While Gross advances stood at Rs1,70,390 crore as on June 30, 2022, up by 9% yoy.

At around 2.53 PM, IDBI Bank was trading at Rs36.55 down by Rs0.2 or 0.54% from its previous closing of Rs36.75 on the BSE. The scrip touched day’s high and low of Rs37.25 and Rs36.50 respectively.