IDBI Bank shares gain over 2 pc after Q3 earnings

Shares of IDBI Bank on Thursday gained over 2 per cent after the company reported a standalone net profit of Rs 378 crore for the December quarter.

The stock closed at Rs 28.30, a gain of 2.17 per cent on BSE. During the day, it jumped 3.79 per cent to Rs 28.75.

On NSE, it closed at Rs 28.20, a rise of 1.81 per cent.

IDBI Bank on Thursday reported a standalone net profit of Rs 378 crore for the December quarter of the current fiscal year as bad loans shrank.

The bank had posted a net loss of Rs 5,763 crore for the year-ago period.

Total income, however, fell during the quarter under review at Rs 5,932.25 crore as against Rs 6,215.60 crore in the same period of 2019-20 as interest income came down.

Interest income of the lender was down at Rs 4,563.98 crore during the quarter as against Rs 4,937.24 crore in the year-ago period, the bank said in a regulatory filing.