DBI Bank sees drop in gross NPA

Lender IDBI Bank on Tuesday reported an exponential rise of 318 per cent in its net profit for Q1FY22 on a year-on-year basis. Accordingly, the bank's net profit rose to Rs 603 crore as against Rs 144 crore for Q1FY21. According to the lender, the gross NPA ratio improved to 22.71 per cent as on June 30, 2021 as against 26.81 per cent as on June 30, 2020. Gross NPA stood at 22.37 per cent as on March 31, 2021.

"Net Profit for Q1-2022 has improved by 18 per cent against Rs 512 crore reported for Q4-2021," the bank said in a statements.

Besides, net interest income (NII) improved by 41 per cent for Q1FY22 to Rs 2,506 crore as against Rs 1,772 crore for Q1FY21. NII stood at Rs 3,240 crore for Q4-2021.Lender IDBI Bank on Tuesday reported an exponential rise of 318 per cent in its net profit for Q1FY22 on a year-on-year basis.