IDBI announces Q4 net profit at Rs.2135.40 million, total income at Rs.21853.50 million

Industrial Development Bank of India Ltd (IDBI) has announced the following results for the quarter & year ended March 31, 2007. The Bank has posted a net profit of Rs 2135.40 million for the quarter ended March 31, 2007 as compared to Rs 2012.40 million for the quarter ended March 31, 2006. Total Income has increased from Rs 19441.60 million for the quarter ended March 31, 2006 to Rs 21853.50 million for the quarter ended March 31, 2007.

The Bank has posted a net profit of Rs 6303.10 million for the year ended March 31, 2007 as compared to Rs 5608.90 million for the year ended March 31, 2006. Total Income has increased from Rs 66611.70 million for the year ended March 31, 2006 to Rs 73726.00 million for the year ended March 31, 2007.

The consolidated results for the Year ended March 31, 2007 are as follows: The Group has posted a net profit of Rs 5883.20 million for the year ended March 31, 2007 as compared to Rs 5439.10 million for the year ended March 31, 2006. Total Income has increased from Rs 68147.10 million for the year ended March 31, 2006 to Rs 75168.20 million for the year ended March 31, 2007.

Further the Bank has informed that, the Board has recommended dividend at Rs 1.50 per share on equity shares for adoption by the Shareholders.

The stock closed the day at Rs.85.45, up by Rs.1.65 or 1.97%. The stock hit an intraday high of Rs.89.80 and low of Rs.84.50. The total traded quantity was 4951745 shares compared to 2 week average of 2014722.

Source : Equity Bulls

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