 "SIDBI Q3 net up 34% at Rs 540.3 cr on sharp rise in interest income")
Small Industries Development Bank of India (SIDBI) has posted 34 per cent increase in net profit at Rs 540.3 crore in the third quarter ended December 2018 (Q3Fy19) on sharp rise in interest income.
It had posted a net profit of Rs 403.18 crore in October-December 2017 (Q3Fy18).
Refinancing agency in statement said its Net Interest Income rose by 40.3 per cent to Rs 725.59 crore in Q3FY19 from Rs 517.15 crore in Q3FY18. However, its Net Interest Margin (NIM-annualised) went down by 64 basis points (Bps) to 1.86 per cent in December 2018 from 2.5 per cent in December 2017 due to focus on low risk assets and increased cost of funding.
The average yield declined to 5.3 per cent as on December 2018 from 5.6 per cent as on December 2017, SIDBI said.
The NIM was down by 19.41 per cent to Rs 137.99 crore in Q3FY19 from Rs 171.22 crore in Q3FY18.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%