IDBI announces Q2 results

Industrial Development Bank of India Ltd (IDBI) has announced the following Unaudited Results for the quarter ended September 30, 2007:

The Bank has posted a net profit of Rs 1555.00 million for the quarter ended September 30, 2007 where as the same was at Rs 1394.00 million for the quarter ended September 30, 2006. Total Income is Rs 23637.20 million for the quarter ended September 30, 2007 where as the same was at Rs 16412.40 million for the quarter ended September 30, 2006.

The erstwhile United Western Bank Ltd (UWB) was amalgamated with the Bank with effect from October 03, 2006. The results for the quarter and six months ended September 2007 and for the year ended March 2007 include the operations of UWB and hence are not comparable with the results for the quarter ended September 2006.