IDBI Bank Q4 net profit jumps 278% to Rs 512 crore; NII rises 38%

The net NPAs improved to 1.97% as on March 2021 from 4.19% in March 2020. NNPA stood at 2.75% (on proforma basis) in Dec 2020.


IDBI Bank results | Q4 Results | NPAs

Abhijit Lele  | 

Private sector lender IDBI Bank on Monday posted 278 per cent year-on-year rise in net profit at Rs 512 crore for the foruth quarter ended March 2021 (Q4FY21) on robust growth in net interest income. The profit stood at Rs 135 crore in fourth quarter ended March 2020 ( Q4Fy20).

Sequentially its net profit was up 35 per cent from Rs 378 crore in quarter ended December 2021 (Q3FY21). For FY21, net profit was Rs 1,3459 crore as against net loss of Rs 12,887 crore in FY20.

Its stock was trading 2.97 per cent at Rs 36.35 per share on BSE.

The Net Interest Income (NII) improved by 38 per cent for Q4FY21 to Rs 3,240 crore from Rs 2,356 crore for Q4FY20. Sequentially NII was up by 79 per cent over Rs 1,810 crore in Q3FY21.

However, other income fell by 11 per cent to Rs 1,182 crore in Q4FY21 from Rs 1,326 crore in Q4FY20. Meanwhile, sequentially it was down by 14 per cent from Rs 1,368 crore in Q3FY21.

Its asset quality improved in reporting quarter (March 2021). The Gross Non Performing Asset (GNPAs) improved 22.37 per cent in March 2021 whereas sequentially, it declined from 24.33 per cent ( Proforma basis) at end of December 2020.

The net NPAs improved to 1.97 per cent as on March 2021 from 4.19 per cent in March 2020. NNPA stood at 2.75 per cent (on proforma basis) in December 2020.

Its provision cover for bad loans rose to 96.90 per cent in March 2021 from 93.74 per cent a year ago. Sequentially, PCR improved to 95.90 per cent (Proforma basis) in December 2020.

Its deposits rose four per cent to Rs 2.3 trillion in Fy21. The share of low cost deposits – current accout and savings account ( CASA) – rose to 50.45 per cent in March 2021 from 47.74 per cent in March 2020.

Bank, which was under Prompt Corrective Action (PCA), saw marginal dip in advances to Rs 1.28 trillion in March 2021 from Rs 1.29 trillion a year ago.

Its capital adequacy stood at 15.59 per cent in March 2021 from 13.31 per cent in March 2020 and 14.77 per cent in December 2020.

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