IDBI posts 7.4 bn net profit

Sunday, 27 April 2008, 07:00 Hrs
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Mumbai: The Industrial Development Bank of India (IDBI) has posted a net profit of 7.4 billion ($185 million) during 2007-08 as compared to 5.8 billion ín the previous fiscal. According to the audited results announced here Saturday, the bank's total income increased to 99.6 billion during the year under review from 75.1 billion in 2006-07. IDBI's total income rose to 96.5 billion from from 73.7 billion. The bank has clocked a net profit of 2.4 billion for the last quarter of the fiscal (January-March) as compared to 2.1 billion during the same period of the previous fiscal. The total income increased from 21.8 billion to 26.2 billion during the quarter. Following the good performance, the IDBI board, at its meeting Saturday, recommended a dividend of 20 percent for 2007-08.
Source: IANS