IDBI Bank Q2 results: Net profit tanks 39% YoY to Rs 2,205 crore; NII dips 49% YoY
IDBI Bank reported a 39% year-on-year profit decline to Rs 2,205 crore in Q2 FY27, impacted by a one-off gain in the previous year. Excluding this, profit rose 14%. Asset quality improved, deposits grew 17%, advances increased 18%, and net interest margins strengthened sequentially to 4.11%.
State lender IDBI Bank on Saturday reported a 39% year-on-year decline in its net profit to Rs 2,205 crore in the second quarter of FY27, from Rs 3,627 crore reported in the posted in the same period last year.The lender stated that Q2FY26 included a one-off gain of Rs 1,699 crore from the sale of a strategic investment (NSDL). Excluding this one-off gain, the company posted a 14% year-on-year jump in its net profit and a 59% YoY surge in its operating profit for Q2 FY27 respectively.Net interest income for the quarter under review came in at Rs 1,353 crore, down 49% YoY from Rs 2,489 crore posted in the year-ago period.
