IDBI Q1 net marginally up at Rs.153.12 Crores

Industrial Development Bank of India Ltd (IDBI) has announced the unaudited financial Results for the quarter ended June 30, 2007.

The Bank has posted a net profit of Rs 1531.20 million for the quarter ended June 30, 2007 where as the same was at Rs 1505.70 million for the quarter ended June 30, 2006. Total Income is Rs 21930.00 million for the quarter ended June 30, 2007 where as the same was at Rs 16683.40 million for the quarter ended June 30, 2006.

The erstwhile United Western Bank Ltd (UWB) was amalgamated with the Bank with effect from October 03, 2006. The results for the quarter ended June 2007 and for the year ended March 2007 include the operations of UWB and hence are not comparable with the results for the quarter ended June 2006.

The Bank has reported an Earnings Per Share (EPS) of Rs.2.11 during Q1 2007-2008 compared to Rs.2.08 in Q1 2006-2007. The capital adequacy ratio of the bank stood at 14.38% in Q1 2007-2008 compared to 14% in Q1 2006-2007.

The stock was trading at Rs.117.65, down by Rs.1.70 or 1.42%. The stock hit an intraday high of Rs.120.70 and low of Rs.116.45. The total traded quantity was 4790981 compared to 2 week average of 3003280.

Source : Equity Bulls

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