Public sector lender IDBI Bank today reported a 34 per cent rise in net income at Rs 335 crore for the June quarter against Rs 251 crore in the same period last year.
Profit was driven by a rise in interest income and interest margin, despite advances growing at a slower pace of 15 percent compared with the previous quarter.
Net interest income jumped 36 per cent to Rs 1,152 crore from Rs 844 crore on a quarter-on-quarter basis.
Net interest margin, the difference between the interest income a bank earns on its advances and the interest it pays on its deposits, increased to 2.07 per cent from 1.61 per cent in the year-ago period.
Grasim Industries
Aditya Birla Group company Grasim Industries has posted a 30.71 per cent rise in consolidated net profit at Rs 751.67 crore for the quarter ended June 30, 2011 against Rs 575.06 crore in the year-ago period.
Consolidated net sales increased 16.15 per cent to Rs 5,872.10 crore from Rs 5,055.19 crore last fiscal.
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