IDBI Bank (IDBI) Q2 24/25 earnings summary

Executive summary

• Net profit for the quarter ended September 30, 2024, was ₹1,860.80 crore, up from ₹1,393.24 crore in the same quarter last year, reflecting strong earnings growth.

• Total income for the quarter reached ₹8,812.79 crore, a year-over-year increase from ₹7,063.66 crore.

• Operating profit for the quarter was ₹3,024.14 crore, compared to ₹2,175.31 crore in the prior year quarter.

• The results were reviewed by joint statutory auditors, who issued unmodified review reports.

Financial highlights

• Net interest margin (annualised) stood at 4.87% for the quarter, compared to 4.33% a year ago.

• Return on assets (annualised) improved to 1.97% from 1.59% year-over-year.

• Gross NPAs reduced to 3.68% of gross advances, down from 4.90% in the same quarter last year.

• Provision coverage ratio (including technical write-offs) reached 99.42% as of September 30, 2024.

• Basic and diluted EPS for the quarter were ₹1.73, up from ₹1.29 in the prior year quarter.

Outlook and guidance

• The bank continues to hold regulatory provisions for restructured assets and maintains additional provisions for retail and corporate borrowers.

• Management expects continued compliance with RBI guidelines and ongoing focus on asset quality.