IDBI Bank Financial Results for Q1 ended June 30, 2024, reports 40% rise in profits YoY

IDBI Bank shares the unaudited financial results for the first quarter of FY25 with Net Profit surges to Rs 1,719 crore, registering a growth of 40% YoY and 6% QoQ. Operating Profit stood at ?2,076 crore.

On the basis of Bussiness segment Net NPA is at 0.23% as against 0.44% as on June 30, 2023, down by 21 bps and Gross NPA stood at 3.87% as against 5.05% as on June 30, 2023, down by 118 bps.

While the CRAR stood at 22.42% with YoY growth of 209 bps. Net Profit improved by 40% in Q1-2025 to Rs 1,719 crore as against net profit of Rs 1,224 crorein Q1-2024.

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In addition, Return on Assets (ROA) improved by 34 bps to 1.83% in Q1-2025 as compared to 1.49% for Q1-2024. Cost of Deposit stood at 4.58% in Q1-2025 as compared to 4.12% in Q1-2024. Operating profit stood at Rs 2,076 crore in Q1-2025 as against Rs 3,019 crore in Q1-2024.

In terms of Business growth, CASA increased to Rs 1,34,810 crore and CASA ratio stood at 48.57% as on June 30, 2024. As on June 30, 2023 total CASA and CASA ratio were at Rs 1,28,870 crore and 52.61%.

Provision Coverage Ratio (including Technical Write-Offs) improved to 99.34% as on June 30, 2024 from 98.99% as on June 30, 2023.

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