Shares of IDBI Bank were trading 4% below on 23 October after the company announced its July-September quarter earnings.

The bank reported a 59.8% year-on-year (YoY) increase in its net profit to Rs 1,323.3 crore for the quarter under review against the Rs 828.1 crore reported in the year-ago quarter, and against the previous quarter, the bank’s net profit increased by 8% QoQ.

The total income for the July-September quarter of the bank saw a 14% YoY increase to Rs 6,924.2 crore from Rs 6,065.5 crore reported in the same quarter of the previous fiscal year. However, in Q1 of the current fiscal year, the bank’s total income saw a 10% quarter-on-quarter (QoQ) dip.

The net interest income saw a 12% increase to Rs 3,066.5 crore from the Rs 2,738.1 crore reported in the corresponding period of the previous financial year.

The gross non-performing assets showed a sequential improvement to 4.9% against the 5.05% reported during the April-June quarter of the current fiscal year. The net non-performing assets also dropped to 0.39% for the quarter under review from the 0.44% reported during the preceding quarter.

At 1:40 pm, the shares of IDBI Bank were trading 4.48% below at Rs 63.95 on NSE.