IDBI Bank Q1 net up 7.5 pct at Rs 172 cr

Public sector IDBI Bank reported 7.5 per cent growth in net profit at Rs 171.83 crore for the first quarter ended June 30, 2009.

The bank had a net profit of Rs 159.76 crore in the first quarter of FY’09, IDBI Bank said in a filing to the Bombay Stock Exchange.

The total income increased 53 per cent to Rs 4,218.91 crore during the June quarter, from Rs 2,756.15 crore in the corresponding period a year-ago.

During the quarter, the bank’s interest income grew 43 per cent to Rs 3,463.30 crore, while the interest expenditure for the April-June period stood at Rs 3,146.86 crore, up 35 per cent over the year-ago period.

Shares of IDBI Bank were trading at Rs 101.10, up 6.87 per cent over previous close on the BSE.