IDBI Bank reported a 57% increase in net profit to Rs 1,458 crore in the third quarter of the financial year ended December 31, 2023.During the corresponding period in the previous year, net profit was at Rs 927 crore. Net Interest Income, the difference between interest earned and expended, rose 17% to Rs 3,435 crore as against Rs 2,925 crore for Q3-2023.Net Interest Margin was up 13 basis points to 4.72% on a year-on-year from 4.59%.A basis point is 1/100th of a percent. Gross net performing assets was down 913 basis points to 4.69%, while net NPA was down 74 basis points to 0.34%. Provision coverage ratio (including technical write-offs) improved to 99.17% from 97.98%.Aided by growth…
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