IDBI Bank Q3 PBT at Rs 756 cr on higher NII, dip in NPA provisions

Lender posts net loss on one-time hit as it opts for lower tax rate

Private sector lender IDBI Bank's profit before tax (PBT) stood at Rs 755.89 crore in the third quarter ended December 2019  (Q3FY20) on teh back of a rise in net interest income and a dip in provisions for bad loans.

Mumbai-based lender had posted pre tax loss of Rs 5,805 crore in quarter enxed December 2018 (Q3FY19.)

However, the bank posted a net loss of Rs 5,763 crore in the reporting  quarter, as against net loss of Rs 4,185 crore in Q3FY19. It exercised the option of a lower tax rate and took a one-time hit of Rs 6,273 crore