New Delhi: IDBI Bank shares fall 1.9 per cent, a day after the public sector lender posted a lower-than-expected April-June net profit of Rs 427 crore. Its net profit over the corresponding period (April-June) a year ago stood at Rs 335 crore.
The total income of the bank rose to Rs 6,787 crore for the quarter ended June 30, 2012 from Rs 6,060 crore a year earlier.
Analysts say the lender faced higher provisioning expenses of Rs 507 core in the previous quarter, after gross and net non-performing asset levels rose by 3.2 per cent and 2.1 per cent, respectively.
Last week state-run lenders, including Punjab National Bank and Central Bank of India reported a rise in bad loans, sending their shares sharply lower.
(With agency inputs)
The total income of the bank rose to Rs 6,787 crore for the quarter ended June 30, 2012 from Rs 6,060 crore a year earlier.
Analysts say the lender faced higher provisioning expenses of Rs 507 core in the previous quarter, after gross and net non-performing asset levels rose by 3.2 per cent and 2.1 per cent, respectively.
Last week state-run lenders, including Punjab National Bank and Central Bank of India reported a rise in bad loans, sending their shares sharply lower.
(With agency inputs)
