 "IDBI Bank shares gain over 2% after third quarter earnings")
Shares of IDBI Bank on Thursday gained over 2 per cent after the company reported a standalone net profit of Rs 378 crore for the December quarter.
The stock closed at Rs 28.30, a gain of 2.17 per cent on BSE. During the day, it jumped 3.79 per cent to Rs 28.75.
On NSE, it closed at Rs 28.20, a rise of 1.81 per cent.
IDBI Bank on Thursday reported a standalone net profit of Rs 378 crore for the December quarter of the current fiscal year as bad loans shrank.
The bank had posted a net loss of Rs 5,763 crore for the year-ago period.
Total income, however, fell during the quarter under review at Rs 5,932.25 crore as against Rs 6,215.60 crore in the same period of 2019-20 as interest income came down.
Interest income of the lender was down at Rs 4,563.98 crore during the quarter as against Rs 4,937.24 crore in the year-ago period, the bank said in a regulatory filing.
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