IDBI Bank Q4 net profit jumps 278% to Rs 512 crore; NII rises 38%

The net NPAs improved to 1.97% as on March 2021 from 4.19% in March 2020. NNPA stood at 2.75% (on proforma basis) in Dec 2020.

IDBI Bank turned profitable in FY21 after five years as the private sector lender on Monday reported a net profit of Rs 1,359 crore for the financial year against a net loss of Rs 12,887 crore in FY20.
 
The bank posted a 278 per cent year-on-year rise in net profit at Rs 512 crore for the fourth quarter ended March 2021 (Q4FY21) on robust growth in net interest income. Sequentially, its net profit was up 35 per cent from Rs 378 crore in the quarter ended December 2021 (Q3FY21).
 
Ajay Sharma, chief financial officer and executive director, said