Mumbai : Private sector IDBI Bank Ltd on Monday said it closed Q1FY24 with a higher net profit of Rs 1, 224.18 crore.

In a regulatory filing, IDBI Bank said it closed Q1FY24 with a total income of Rs 7, 711.95 crore (against Q1FY23’s Rs 5, 774.11 crore) and a net profit of Rs1, 224.18 crore (Rs 756.36 crore).

During the period under review, the bank had made provisions of Rs 1, 190.43 crore (Rs 959.23 crore) of which provision for non-performing assets were Rs 581.35 crore (Rs 110.03 crore).

As on June 30, 2023, IDBI Bank’s gross non-performing assets (GNPA) stood at Rs 8, 762.51 crore crore (against Rs 33, 908.32 crore on June 30, 2022) and the net NPA at Rs 730.60 crore (against Rs 1, 741.24 crore).