IDBI Bank Q3 Results: Standalone net profit jumps 31% YoY to Rs 1,908 cr, NII rises 23%

IDBI Bank on Monday reported 31% year-on-year (YoY) growth in its standalone net profit to Rs 1,908 crore, while the net interest income (NII) jumped 23% YoY to Rs 4,229 crore.

Operating profit during the third quarter improved 20% to Rs 2,802 against Rs 2,327 crore in Q3FY24. Meanwhile, net interest margin (NIM) rose 45 bps to 5.17% in the reporting period.

Provisions, on the other hand, increased by 3% YoY to Rs 894 crore. The same stood at Rs 868 crore in the year-ago period.


On the asset quality front, the gross non-performing asset (NPA) ratio improved to 3.57% in December 2024 against 4.69% as of December 2023. Net NPAs too declined to 0.18% from 0.34% a year ago.

The provision coverage ratio (including technical write-offs) improved to 99.47% at the end of the December quarter from 99.17% in the last-year quarter.

Tier 1 capital increased to 19.91% as of December 2024 against 18.04% as of December 2023. CRAR rose to 21.98% in the third quarter.

On the business front, total deposits increased 9% YoY to Rs 2.82 lakh crore in the December quarter, while advances rose 18% YoY to Rs 2.06 lakh crore.

CASA increased to Rs 1.3 lakh crore in the reporting period and CLSA ratio was at 46.35%.

On Monday, IDBI Bank shares were trading 3.4% higher at Rs 86.9 on the NSE.