IDBI Bank reported a 53.50 per cent year-on-year (YoY) plunge in profit at Rs 55.50 crore for the September quarter.
The lender had reported a net profit of Rs 119.50 crore for the corresponding quarter last year.
Interest earned for the quarter stood at Rs 6,992.80 crore compared with Rs 7,069.86 crore reported for the year-ago quarter. Net interest income for the quarter saw 0.4 per cent YoY degrowth at Rs 1,606 crore.
On a net basis, NPAs stood at 8.32 per cent, which were higher than 7.47 per cent reported for Q1 of FY17 and 3.16 per cent in Q2 of FY16.
The bank reported a sharp surge in gross non-performing assets to 13.05 per cent in September quarter, compared with 11.92 per cent in June quarter and 6.92 per cent in the year-ago quarter.
