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Published on 4/05/2021 12:00:55 PM | Source: Accord Fintech

IDBI Bank shines on reporting around 4-fold jump in Q4 consolidated net profit

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IDBI Bank is currently trading at Rs. 37.50, up by 1.30 points or 3.59% from its previous closing of Rs. 36.20 on the BSE.

The scrip opened at Rs. 37.45 and has touched a high and low of Rs. 38.00 and Rs. 36.75 respectively. So far 1794684 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.75 on 07-Jul-2020 and a 52 week low of Rs. 19.20 on 18-May-2020.

Last one week high and low of the scrip stood at Rs. 38.00 and Rs. 34.55 respectively. The current market cap of the company is Rs. 40106.46 crore.

The promoters holding in the company stood at 94.71%, while Institutions and Non-Institutions held 1.71% and 3.58% respectively.

IDBI Bank has reported results for fourth quarter and year ended March 31, 2021.

The bank has reported around 4-fold jump in its net profit at Rs 512.20 crore for the quarter under review as compared to Rs 135.39 crore for the same quarter in the previous year. Total income of the bank increased by 0.54% at Rs 6,962.59 crore for Q4FY21 as compared Rs 6,924.94 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported around 4-fold jump in its net profit after minority interest and share of loss in associate at Rs 629.05 crore for the quarter under review as compared to Rs 163.60 crore for the same quarter in the previous year. Total income of the bank increased by 0.59% at Rs 7,052.18 crore for Q4FY21 as compared Rs 7,010.74 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the bank has reported net profit of Rs 1,359.46 crore against net loss of Rs 12,887.34 crore for the previous year. Total income of the bank decreased by 2.92% at Rs 24,556.93 crore for year under review as compared to Rs 25,295.47 crore for year ended March 31, 2020.

For the year ended March 31, 2021, on the consolidated basis, the bank has reported a net profit after minority interest and share of loss in associate of Rs 1,513.97 crore against net loss of Rs 12,835.24 crore for the previous year. Total income of the bank decreased by 2.68% at Rs 24,803.63 crore for year under review as compared to Rs 25,485.45 crore for year ended March 31, 2020.

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