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Journalism of Courage
State-owned lender IDBI Bank today posted 20.22 per cent rise in net profit to Rs 515.9 crore for the second quarter ended September 30,2011.
The bank had posted a net profit of Rs 429.1 crore in the July-September period of 2010.
The total income rose to Rs 6,291.4 crore from Rs 4,044 crore in the corresponding period last fiscal,IDBI Bank said in a filing to the BSE.
“Our quarterly results have been good given the market conditions. We have seen a healthy growth in deposits,borrowings have grown by 7 per cent overall profits have also grown,” IDBI Bank Executive Director Melwyn Rego said.
Shares of the bank today closed at Rs 104.80,down 2.06 per cent from its previous close.
