By IANS,
Mumbai : The Industrial Development Bank of India (IDBI) has posted a net profit of Rs.7.4 billion ($185 million) during 2007-08 as compared to Rs.5.8 billion ín the previous fiscal.
According to the audited results announced here Saturday, the bank’s total income increased to Rs.99.6 billion during the year under review from Rs.75.1 billion in 2006-07.
IDBI’s total income rose to Rs.96.5 billion from from Rs.73.7 billion.
The bank has clocked a net profit of Rs.2.4 billion for the last quarter of the fiscal (January-March) as compared to Rs.2.1 billion during the same period of the previous fiscal.
The total income increased from Rs.21.8 billion to Rs.26.2 billion during the quarter.
Following the good performance, the IDBI board, at its meeting Saturday, recommended a dividend of 20 percent for 2007-08.