IDBI Bank’s Q2 net profit up 46% at Rs 828 cr : The Tribune India



New Delhi, October 21

IDBI Bank on Friday reported a 46% rise in its net profit to Rs 828 crore for the second quarter ended September 30. The whole revenue within the September 2022-23 quarter rose to Rs 6,065.51 crore from Rs 5,129.92 crore a yr in the past, IDBI Bank mentioned in a regulatory submitting.

The personal sector lender, managed by India’s largest insurer LIC, improved its asset high quality by bringing down its gross non-performing belongings (NPAs) to 16.51% of the gross advances as of September 30, 2022, in opposition to 21.85% at the tip of September 2021.

Its net NPAs too got here all the way down to 1.15% from 1.71%.

However, the provisioning in the direction of dangerous loans and contingencies for the September quarter of FY23 was raised to Rs 770.72 crore from Rs 571.43 crore in Q2 FY22. It was decrease than Rs 959.23 crore for June 2022-23 quarter.

JSW Steel Q2 loss at Rs 915 cr

JSW Steel on Friday reported a consolidated net lack of Rs 915 crore for the quarter ended September 30, 2022.

The firm had posted a consolidated net profit of Rs 7,179 crore for the year-ago interval, JSW Steel mentioned in a submitting to the Bombay Stock Exchange.

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