Home > Business > PTI > Report
IDBI net down 55% in Q1
July 29, 2004 14:11 IST
Industrial Development Bank of India has posted a net profit of Rs 23 crore (Rs 230 million) in the first quarter of this fiscal, which is 55 per cent lower than Rs 51 crore (Rs 510 million) recorded in April-June 2003.
IDBI Bank to merge with IDBI
The total income during the quarter stood at Rs 1,598 crore (Rs 15.98 billion) as against Rs 1,379 crore (Rs 13.79 billion) in April-June 2003, IDBI informed the Bombay Stock Exchange on Thursday.
The financial institution, slated to become a banking entity under the Companies Act, has extended its financial year 2003-04 till September 2004.