IDBI Bank Q4 profit declines 6.5 per cent to Rs 518 crore

IDBI Bank on Wednesday reported a 6.5 per cent decline in net profit at Rs 518.23 crore for the quarter ended March 31, 2014.

The state-owned lender had posted a net profit of Rs 554.45 crore for the corresponding quarter a year ago.

Total income in the quarter under review increased to Rs 7,866.52 crore from Rs 7,543.78 crore in the quarter ended March 31, 2013, IDBI Bank in a filing to the BSE.

For the year ended March, the bank's net profit dipped 40 per cent to Rs 1,121.4 crore from Rs 1,882.08
crore in 2012-13.

Total income rose to Rs 28,283.81 crore for the entire year from Rs 19,359.49 crore in the previous fiscal year.

Shares in IDBI Bank, on Wednesday, ended at Rs 68.20 apiece on the BSE,  up 0.2 per cent from the previous close.