IDBI Bank Share Price: IDBI Bank jumped over 4.20 per cent on BSE on Monday (May 6, 2024) after the lender reported huge jump in its profit after tax (PAT) and net interest income in the fourth quarter results.

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The stock that closed at Rs 89.41 on Friday jumped to Monday's high of Rs 93.21, a 4.25 per cent rise from the previous close. 

IDBI Bank shares that began the trading session on Monday at Rs 92.69 each were trading higher by 0.32 per cent, or Rs 0.29, at Rs 89.70 at 9:43 am on Monday.

IDBI Bank FY24 Q4 

The company's net interest income rose by 12.50 per cent to Rs 3,688 crore in the fourth quarter from Rs 3,280 crore Year-on-Year (YoY). 

Its profit after tax (PAT) soared by 44 per cent to Rs 1,628.50 crore in the quarter under review from Rs 1,133.4 crore in the same quarter last fiscal.

The company's provision jumped to Rs -693 core in Q4 compared to Rs -5,469 crore YoY.

Its quarter-on-quarter (QoQ) provision was Rs -693 crore in the fourth quarter against Rs -446 crore. 

IDBI Bank's gross non-performing assets were 4.53 per cent in the January-March quarter compared to 4.69 per cent QoQ.  

Its net non-performing assets were 0.34 per cent in Q4 against 0.34 per cent QoQ.  

IDBI Bank's net interest margin (NIM) improved to 4.91 per cent in the fourth-quarter compared to 4.72 per cent QoQ. 
 
IDBI Bank also announced a dividend of Rs. 1.50 per equity share. 

The lender's net profit surges to all time high of Rs 5,634 crore for the year. 

The lender achieved a significant milestone of 2000-plus branches pan India. 

The company has signed a MoU with Honda Cars for inventory financing.