IDBI Bank Shares Rise 4% on Q4 Earnings, Dividend Announcement

IDBI Bank Q4 earnings: The banking stock rose 4.25% to Rs 93.21 on Monday against the previous close of Rs 89.41 on BSE. Market cap of the lender stood at Rs 97,879 crore Shares of IDBI Bank gained over 4% in early deals today after the lender reported a 44% rise in March quarter profit. Net profit climbed to Rs 1,628 crore in the last quarter as provisions fell 58 percent. The banking stock rose 4.25% to Rs 93.21 on Monday against the previous close of Rs 89.41 on BSE. Total 5.43 lakh shares of the firm changed hands amounting to a turnover of Rs 4.98 crore. Market cap of the lender stood at Rs 97,879 crore. The stock is has risen 72% in a year and gained 35% in 2024.

In terms of technicals, the relative strength index (RSI) of IDBI Bank stands at 56.2, signaling it’s neither trading in the overbought nor in the oversold territory. IDBI Bank shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The stock has a beta of 1.1, indicating high volatility in a year.

Net interest income (NII) climbed 12% to Rs 3,688 crore in Q4 against Rs 3,280 crore on a YoY basis. Return on assets (RoA) climbed 39 bps to 1.82% for Q4 as compared to 1.43% in Q4 of the corresponding quarter of the previous financial year.

Net interest income climbed 12 percent year on year to Rs 3,688 crore in Q4. Net interest margin (NIMs) fell 10 basis points to 4.91 percent. Asset quality was stable during the quarter, with gross NPAs slipping 16 bps sequent ially to 4.53 percent and net NPA unchanged at 0.34 percent QoQ.