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IDBI Bank share price hits upper circuit on Q1 profit of Rs 144 crore

IDBI Bank share price jumped 5% at open on July 29, hitting upper circuit of Rs 40.15 per share on BSE after the company declared its June quarter numbers. IDBI Bank on July 28 reported a standalone net profit of Rs 144.43 crore for the June quarter of FY21. The private sector bank posted a net loss of Rs 3,800.84 crore for April-June 2019-20. The bank's asset quality improved with Gross NPAs falling to 26.81% of the gross advances as at June 30, 2020 from 29.12% by June 2019. Net NPAs or bad loans came down to 3.55% from 8.02%.

Read More at Moneycontrol News date : 29 Jul 2020, Wednesday

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