IDBI Bank Q4 net up 62 pc at Rs 516 cr

The company had a net profit of Rs 318.41 crore in the same period last year, IDBI Bank said in a filing to the Bombay Stock Exchange (BSE).

For the full-year ended March 31, 2011, the lender reported a net profit of Rs 1,650.32 crore against Rs 1,031.13 crore in the same period year-ago, it added. Total income of IDBI for the January-March quarter rose to Rs 5,700.65 crore from Rs 4,627.91 crore in the same period last year.

The Board of Directors of the Bank has proposed a dividend of Rs 3.50 per share for the year 2010-11. However, on a consolidated basis, the company reported a net profit of Rs 1,563.51 crore for the year ended March 31, 2011 as compared to Rs 1,020.53 crore in the same period last year.

"The figures of the current period include the working results of the two erstwhile wholly-owned subsidiary of the bank, namely, IDBI Home Finance and IDBI Gilts for the period from 01.01.2011 to 31.03.2011 consequent on merging with the bank. Accordingly, the figures of the previous year are not strictly comparable," it added.

Meanwhile, shares of the company were trading at Rs 148.05, up 1.86 per cent from the previous close on the BSE.

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