Mumbai: State-run IDBI Bank on Friday said it has reported a 28.16% growth in net profit at Rs3.14 crore in the fourth quarter ended 31 March 2009.
The lender had a net profit of Rs2.45 crore in the March quarter of FY08, IDBI Bank said in a filing to the Bombay Stock Exchange (BSE).
The bank’s total income rose 41.07% to Rs37.34 crore in the March quarter, from Rs26.47 crore in the corresponding period a year ago.
During the quarter, IDBI’s interest income jumped 45% to Rs32.62 crore, while interest expenditure stood at Rs27.80 crore, up 38% over the same period last fiscal.
The board has declared a dividend of 25% for FY09, at the rate of Rs2.50 a piece on shares of face value of Rs10 each.
For the financial year ended March 2009, IDBI Bank reported a net profit of Rs8.59 crore, up 17.83% over the year-ago period. The bank had a net profit of Rs7.29 crore in FY08.
The PSU lender’s total income rose to Rs130.22 crore during FY09, from Rs96.23 crore in the last fiscal.
Shares of IDBI Bank were trading at Rs64.15, up 7.54% in the late afternoon trade on the BSE.