IDBI Bank Q1 net down 28% at Rs 307 cr

State-owned IDBI Bank today reported a 28.1 per cent decline in net profit at Rs 306.95 crore for the first quarter ended June 2013.

The bank had earned net profit of Rs 427.34 crore in the April-June quarter of 2011-12, IDBI Bank informed the BSE. The total income of the bank rose to Rs 7,445.42 crore in the April-June quarter from Rs 6,789.82 crore in the same period last year.

As of June 30, 2013, IDBI Bank's portfolio quality deteriorated further, with gross non-performing assets (NPAs) rising to 4.34 per cent of gross advances as against 3.24 per cent in the same quarter of the previous fiscal.

Its net non-performing assets also rose from 2.16 per cent from 2.07 per cent.

The bank's capital adequacy ratio as of June 30 stood at 13.35 per cent.

Shares of IDBI Bank were trading at Rs 68.60 apiece in the afternoon on the BSE, down 1.22 per cent from their previous close.