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Business
IDBI Bank Q2 Net Profit Drops 39% to Rs 2,205 crore, Underlying Profit Rises
✍️ Asianet Newsable
🗓 18 Oct 2026, 02:32 AM
👁 12
IDBI Bank reported a 39% fall in net profit for the second quarter, posting Rs 2,205 crore, while its underlying profit showed an increase.
IDBI Bank, a major public sector lender, released its financial results for the quarter ended June 30, 2024, showing a net profit of Rs 2,205 crore, down 39% year‑on‑year.
The decline reflects higher provisioning and rising cost of funds amid a challenging credit environment, but the bank's underlying profit—excluding one‑time items—rose, indicating operational resilience.
Management said the improvement in underlying earnings was driven by better asset quality, fee‑income growth, and cost‑containment measures. The bank aims to strengthen its balance sheet and support credit growth as the Indian economy recovers.
Analysts noted that while the net‑profit dip may concern investors, the upward trend in underlying profit could signal a turnaround if the bank continues to manage non‑performing assets and leverages digital initiatives.
The decline reflects higher provisioning and rising cost of funds amid a challenging credit environment, but the bank's underlying profit—excluding one‑time items—rose, indicating operational resilience.
Management said the improvement in underlying earnings was driven by better asset quality, fee‑income growth, and cost‑containment measures. The bank aims to strengthen its balance sheet and support credit growth as the Indian economy recovers.
Analysts noted that while the net‑profit dip may concern investors, the upward trend in underlying profit could signal a turnaround if the bank continues to manage non‑performing assets and leverages digital initiatives.