IDBI Bank gains on reporting 66% rise in Q4 consolidated net profit
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
IDBI Bank is currently trading at Rs. 55.37, up by 0.75 points or 1.37% from its previous closing of Rs. 54.62 on the BSE.
The scrip opened at Rs. 55.80 and has touched a high and low of Rs. 56.31 and Rs. 55.28 respectively. So far 490824 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 62.00 on 09-Jan-2023 and a 52 week low of Rs. 30.50 on 30-Jun-2022.
Last one week high and low of the scrip stood at Rs. 56.31 and Rs. 51.15 respectively. The current market cap of the company is Rs. 59536.05 crore.
The promoters holding in the company stood at 94.71%, while Institutions and Non-Institutions held 0.39% and 4.90% respectively.
IDBI Bank reported results for fourth quarter (Q4) and year ended March 31, 2023.
IDBI Bank has reported 64.11% rise in its net profit at Rs 1,133.37 crore for the quarter under review as compared to Rs 690.60 crore for the same quarter in the previous year. Total income of the bank increased by 28.87% at Rs 7,013.84 crore for Q4FY23 as compared to Rs 5,442.55 crore for the corresponding quarter previous year.
On consolidated basis, the bank has reported 65.63% rise in its net profit at Rs 1,216.81 crore for fourth quarter ended March 31, 2023 as compared to Rs 734.66 crore for the same quarter in the previous year. Total income of the bank increased by 28.96% at Rs 7,133.43 crore for Q4FY23 as compared to Rs 5,531.39 crore for the corresponding quarter previous year.
For the year ended March 31, 2023, the bank has reported 49.43% rise in its net profit at Rs 3,645.09 crore as compared to Rs 2,439.27 crore for the previous year. Total income of the bank increased by 8.53% at Rs 24,941.76 crore for year under review as compared to Rs 22,981.80 crore for year ended March 31, 2022.
For the year ended March 31, 2023, on the consolidated basis, the bank has reported 46.27% rise in its net profit at Rs 3,706.06 crore as compared to Rs 2,533.67 crore for the previous year. Total income of the bank increased by 8.31% at Rs 25,166.91 crore for year under review as compared to Rs 23,235.02 crore for year ended March 31, 2022.
