IDBI Q3 net at Rs 119cr

Industrial Development Bank of India (IDBI) today reported a net profit of Rs 119.30 crore for the third quarter ended December 31, 2005 as against Rs 62.13 crore in Q3FY05.

According to a release issued by the bank to the BSE today, total income increased to Rs 1,548.16 crore in Q3FY06 from Rs 1,259.08 crore in Q3FY05.

"The results for the quarter ended December 31, 2005 pertain to the bank as the merged entity incorporating operations of erstwhile IDBI Bank. However, the results for the quarter ended December 31, 2004 did not include the operations of erstwhile IDBI Bank as the approval of RBI for the merger was received on April 2, 2005, and are therefore not comparable," the release added.