On Monday, January 20, IDBI Bank announced a Rs.1,908.27 crore standalone net profit for the current fiscal year's December quarter (Q3FY25). Compared to a profit of Rs.1,458.18 crore made in the same quarter previous year, the profit number was almost 31% higher. The lender's profit increased by over 4 percent on a quarter-over-quarter (QoQ) basis. The company made Rs.1,836.45 crore in Q3FY25.
In comparison to Rs.7,514.27 crore year-over-year (YoY) and Rs.8,754.54 crore quarter-over-quarter (QoQ), the company's total income for the reviewed quarter was Rs.8,564.92 crore.
Profit before provisions and contingencies, or operating profit, increased 20.43 percent year over year to Rs.2,801.92 crore from Rs.2,326.55 crore in the same quarter of the previous year. On the other hand, operating profit decreased 6.8% on a QoQ basis.
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It was Rs.3,006.33 crore in the final quarter of FY25. From Q3FY24's Rs.319.85 crore to Q3FY25's Rs.165.60 crore, provisions and contingencies fell 48.23% year over year. From Rs.555.19 crore in Q2FY25, provisions and contingencies fell 70.2% on a quarterly basis.
The gross non-performing asset (NPA) of IDBI Bank for Q3FY25 was Rs.7,634.75 crore, down 0.24 percent QoQ from Rs.7,653.13 crore and 11.11 percent YoY from Rs.8,589.40 crore. For the quarter, the gross non-performing assets (NPAs) to gross advances ratio was 3.57 percent, which was lower than the quarterly and annual averages of 4.69 and 3.68 percent, respectively.
The bank's net non-performing assets (NPAs) decreased by 9% from quarter to quarter and 38.41% from year to year to Rs.365.46 crore. The net income of the bank in Q3FY24, the bank's net NPA was Rs.593.34 crore; in Q2FY25, it was Rs.401.60 crore.
The percentage of net NPAs to net advances stood at 0.18 per cent for the quarter, down from 0.34 per cent in the same quarter last year and 0.20 per cent in Q2FY25.
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