IDBI Bank Q3 result: Profit jumps 31% YoY; provisions, net NPA drops

IDBI Bank Q3 result: Banking major IDBI Bank, on Monday, January 20, reported a standalone net profit of ₹1,908.27 crore for the December quarter of the current financial year (Q3FY25). The profit figure was nearly 31 per cent up against a profit of ₹1,458.18 crore earned in the corresponding quarter last year.

On a quarter-on-quarter (QoQ) basis, the lender's profit rose nearly 4 per cent. In Q3FY25, the company's profit was ₹1,836.45 crore.

The company's total income during the quarter under review stood at ₹8,564.92 crore against ₹7,514.27 crore year-on-year (YoY) and ₹8,754.54 crore quarter-on-quarter (QoQ).

The company's operating profit, which is profit before provisions and contingencies, rose 20.43 per cent YoY to ₹2,801.92 crore from ₹2,326.55 crore same quarter last year. However, sequentially (QoQ), operating profit declined 6.8 per cent. In the last quarter of FY25, the figure was ₹3,006.33 crore.

Provisions and contingencies for Q3FY25 declined 48.23 per cent YoY to ₹165.60 crore from ₹319.85 crore in Q3FY24. Provisions and contingencies dropped 70.2 per cent QoQ from ₹555.19 crore in Q2FY25.

IDBI Bank's gross NPA for Q3FY25 stood at ₹7,634.75 crore, down 11.11 per cent YoY from ₹8,589.40 crore and 0.24 per cent QoQ from ₹7,653.13 crore. The percentage of gross NPAs to gross advances stood at 3.57 per cent for the quarter, down from 4.69 per cent year over year and 3.68 per cent quarter over quarter.

The bank's net NPAs declined 38.41 per cent year over year and 9 per cent quarter over quarter to ₹365.46 crore. In Q3FY24, the bank's net NPA was ₹593.34 crore; in Q2FY25, it was ₹401.60 crore.

The percentage of net NPAs to net advances stood at 0.18 per cent for the quarter, down from 0.34 per cent in the same quarter last year and 0.20 per cent in Q2FY25.

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