IDBI Bank gains despite reporting drop in Q4 profit

IDBI Bank is currently trading at Rs. 69.15, up by 0.95 points or 1.39% from its previous closing of Rs. 68.20 on the BSE. The scrip opened at Rs. 70.25 and has touched a high and low of Rs. 71.75 and Rs. 68.85 respectively. So far 444818 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.70 on 20-May-2013 and a 52 week low of Rs. 52.30 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 71.75 and Rs. 66.65 respectively. The current market cap of the company is Rs. 11171.44 crore. The promoters holding in the company stood at 76.50%, while Institutions and Non-Institutions held 14.07% and 9.43% respectively. IDBI Bank has posted a fall of 6.53% in its net profit after tax at Rs 518.23 crore for the quarter ended March 31, 2014 as compared to Rs 554.45 crore for the same quarter in the previous year. However, total income of the bank has increased by 4.27% at Rs 7866.52 crore for quarter under review as compared to Rs 7543.78 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the bank has posted fall of 40.41% in its net profit after tax at Rs 1121.40 crore as compared to Rs 1882.08 crore for the same period in the previous year. However, total income of bank has increased by 4.56% at Rs 29576.27 crore for year under review as compared to Rs 28283.81 crore for the period ended March 31, 2013. For the year ended March 31, 2014, on the consolidated basis, the bank has posted a fall of 39.02% in its net profit after tax at Rs 1151.74 crore as compared to Rs 1888.90 crore for the same period in the previous year. However, total income of bank has increased by 4.61% at Rs 29720.25 crore for year under review as compared to Rs 28409.63 crore for the period ended March 31, 2013.