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(From Business Line)
Mumbai, Jan. 30. INDUSTRIAL Development Bank of India (IDBI), undergoing conversion into a commercial bank, has posted a 17-per cent increase in net profit for the third quarter ended December 31, 2003 at Rs 47 crore, up from Rs 40 crore in the corresponding period of the previous year.
While income from operations decreased to Rs 1,639 crore (Rs 1,797 crore), interest cost was reduced to Rs 1,160 crore (Rs 1,447 crore). Other income was a tad lower at Rs 26 crore (Rs 27 crore), said a press release from the institution.
Total income in Q3 decreased 8.7 per cent to Rs 1,665 crore (Rs 1,824 crore) and total expenditure decreased …