- IDBI Bank’s net income for the first quarter was 20 billion rupees, marking a 16% increase compared to the previous year.
- The bank reported gross non-performing assets at 2.93%, a slight improvement from 2.98% in the previous quarter.
- Recoveries during the quarter were 1.78 billion rupees, while provisions were higher at 2.33 billion rupees compared to the previous quarter.
- Operating profit rose to 23.5 billion rupees, reflecting a 13% year-on-year increase.
- Interest income was up by 5.2% year-on-year, totaling 70.2 billion rupees.
- Interest expense also increased by 13% year-on-year, reaching 38.6 billion rupees.
- Other income experienced a significant surge, jumping 78% year-on-year to 14.4 billion rupees.
- No analyst ratings such as buys, holds, or sells were reported.
A look at IDBI Bank Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, IDBI Bank Ltd demonstrates a positive long-term outlook. With high scores in Dividend and Momentum, it indicates strong performance in terms of dividend payouts and market momentum. Additionally, the company scores well in Value, Growth, and Resilience, showcasing its solid financial standing, growth potential, and ability to withstand market volatility. IDBI Bank Limited, a provider of banking and financial services, appears well-positioned for sustained growth and stability in the long run.
Overall, IDBI Bank Ltd‘s Smartkarma Smart Scores paint a favorable picture for the company’s future prospects. With high marks across various key factors, including Value, Dividend, Growth, Resilience, and Momentum, the bank is well-equipped to navigate through challenges and capitalize on opportunities in the dynamic financial sector. Investors may find IDBI Bank Limited an attractive choice for long-term investment based on its strong performance indicators and diversified range of banking and financial services.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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