Home Finance IDBI Financial institution internet revenue up 46% to Rs 828 crore in...

IDBI Financial institution internet revenue up 46% to Rs 828 crore in Q2 FY2013 – Enterprise Colors

IDBI Financial institution on Friday reported a 46 per cent rise in its internet revenue at Rs 828 crore for the second quarter ended September 30.

The financial institution had made a internet revenue of Rs 567.12 crore in the identical interval a yr in the past.

IDBI Financial institution stated in a regulatory submitting that whole revenue for the September 2022-23 quarter rose to Rs 6,065.51 crore from Rs 5,129.92 crore a yr in the past.

The non-public sector lender managed by India’s largest insurer LIC improved its asset high quality by lowering its gross non-performing property (NPAs) to 16.51 per cent of gross advances as on September 30, 2022, from 21.85 per cent on the finish . of September 2021.

Its internet NPAs additionally got here down from 1.71 per cent to 1.15 per cent.

Nevertheless, the availability for dangerous loans and contingencies for the September quarter of FY 2013 was elevated to Rs 770.72 crore from Rs 571.43 crore within the second quarter of FY 2012. This was decrease from Rs 959.23 crore within the June 2022-23 quarter.

Shares of IDBI Financial institution closed 1.33 per cent decrease at Rs 44.15 on the BSE.

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