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IDBI Bank Q1 net up 7.6%

This article was posted on Jul 15, 2009 and is filed under Stock News

Mumbai: Public sector IDBI Bank on Wednesday reported 7.6% growth in net profit at Rs171.83 crore for the first quarter ended 30 June, 2009. The bank had a net profit of Rs159.76 crore in the first quarter of FY09, IDBI Bank said in a filing to the Bombay Stock Exchange.

The total income increased 53% to Rs4,218.91 crore during the June quarter, from Rs2,756.15 crore in the corresponding period a year-ago. During the quarter, the bank’s interest income grew 43% to Rs3,463.30 crore, while the interest expenditure for the April-June period stood at Rs3,146.86 crore, up 35 % over the year-ago period.

Shares of IDBI Bank were trading at Rs101.10, up 6.87% over previous close on the BSE.

source: Livemint

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