IDBI Bank Q3FY25 results: Net profit rises 31% to Rs 1,908 cr, NII up 23%

IDBI Bank recorded 31 per cent Year-on-Year (YoY) growth in net profit to Rs 1908.27 crore in the quarter ended December 31, 2024 (Q3 FY25) from Rs 1458.18 crore aided by increase in net interest income and drop in provisions.

 

The Net Interest Income (NII) grew by 23 per cent YoY to Rs 4228 crore from Rs 3435 crore in Q3 FY24. While, other income dropped by nearly 23 per cent YoY to Rs 749.35 crore. The total income of the lender recorded approximately 14 per cent growth to Rs 8564.92 crore.

 

The net interest margin (NIM), a measure of banks’ profitability, improved by 45 bps to 5.17 per cent during the quarter under review compared to 4.72 per cent in the same quarter last year.

 

The provisions of the lender dropped by 48.22 per cent to Rs 165.60 crore in Oct-Dec period of FY25 from Rs 319.85 crore last year. Sequentially also it dropped by 70 per cent from Rs 555.19 crore in Q2 FY25.

 

Provision Coverage Ratio (including Technical Write-Offs) improved to 99.47% as on December 31, 2024 from 99.17% as on December 31, 2023

 

Gross non-performing assets (NPAs) stood at 3.57 per cent at the end of the December quarter compared to 4.69 per cent at the end of December 2023.  The net NPAs was at 0.18 per cent in December quarter (Q3Fy25) while it was 0.34 per cent in December 2023.

 

The bank’s advances grew 18 per cent YoY to Rs 2.07 trillion. The bank’s deposits grew 9 per cent YoY to Rs 2.82 trillion. Of this, current account and savings deposits (CASA) grew 2 per cent to Rs 1.31 trillion. The share of CASA deposits in the total stood at 46.35 per cent.

 

In a separate exchange filing, the lender also said that its board has approved the proposal for sale of IDBI Bank's entire holding of 8,54,000 having face value of Rs. 100/- per share in Pondicherry Industrial Promotion Development and Investment Corporation Ltd. (PIPDIC), an associate company of IDBI Bank. The bank has 21.14 per cent shareholding in the company.