Public sector undertaking IDBI Bank reported an increase of 62.13 percent in its net profit for the fourth quarter of 2010-11, which stood at Rs.516.25 crore as against Rs.318.41 crore in the like period of 2009-10.
The total income of the bank grew by 23.17 percent in the quarter under review and reached Rs.5,700.65 crore from Rs.4,627.91 crore in the quarter ended March 31, 2010.
For the fiscal year 2010-11, the bank reported an increase of 60 percent in its net profit, which stood at Rs.1,650.32 crore as compared to Rs.1,031.13 crore in the previous fiscal.
The total income of bank in 2010-11 rose by 18 percent to Rs.20,684.47 crore, compared to Rs.17,563.05 crore in the previous year.
The bank also reported a consolidated net profit of Rs.1,563.51 crore for 2010-11 as against Rs.1,020.53 crore in 2009-10.
"The figures of the current period include the working results of the two erstwhile wholly owned subsidiary of the bank namely IDBI Home Finance Ltd. and IDBI Gilts Ltd. for the period from Jan 1, 2011 to March 31, 2011, consequent on merging with the bank. Accordingly, the figures of the previous year are not strictly comparable," the bank said in a filing to the Bombay Stock Exchange (BSE).
Meanwhile, the bank's scrip at the BSE rose by 2.89 percent and closed at Rs.149.55.
