New Delhi, Jan 28 (PTI) Shares of IDBI Bank on Thursday gained over 2 per cent after the company reported a standalone net profit of Rs 378 crore for the December quarter.

The stock closed at Rs 28.30, a gain of 2.17 per cent on BSE. During the day, it jumped 3.79 per cent to Rs 28.75.

On NSE, it closed at Rs 28.20, a rise of 1.81 per cent.

IDBI Bank on Thursday reported a standalone net profit of Rs 378 crore for the December quarter of the current fiscal year as bad loans shrank.

The bank had posted a net loss of Rs 5,763 crore for the year-ago period.

Total income, however, fell during the quarter under review at Rs 5,932.25 crore as against Rs 6,215.60 crore in the same period of 2019-20 as interest income came down.

Interest income of the lender was down at Rs 4,563.98 crore during the quarter as against Rs 4,937.24 crore in the year-ago period, the bank said in a regulatory filing.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)