Private sector IDBI Bank Ltd on Monday said it closed Q1FY24 with a higher net profit of Rs 1,224.18 crore.
In a regulatory filing, IDBI Bank said it closed Q1FY24 with a total income of Rs 7,711.95 crore (against Q1FY23’s Rs 5,774.11 crore) and a net profit of Rs1,224.18 crore (Rs 756.36 crore).
During the period under review, the bank had made provisions of Rs 1,190.43 crore (Rs 959.23 crore) of which provision for non-performing assets were Rs 581.35 crore (Rs 110.03 crore).
As on June 30, 2023, IDBI Bank’s gross non-performing assets (GNPA) stood at Rs 8,762.51 crore crore (against Rs 33,908.32 crore on June 30, 2022) and the net NPA at Rs 730.60 crore (against Rs 1,741.24 crore).
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