For the full-year ended 31 March 2011, the lender reported a net profit of Rs1,650.32 crore against Rs1,031.13 crore in the same period year-ago, a growth of 60.05%
Mumbai: IDBI Bank today posted a jump of 62.13% in net profit at Rs516.25 crore for the fourth quarter ended 31 March 2011 compared to Rs318.41 crore in the same period last year, IDBI Bank said in a filing to the Bombay Stock Exchange (BSE).
Total income of IDBI for the January-March quarter rose by 23.18% to Rs5,700.65 crore from Rs4,627.91 crore in the same period last year.
Net interest income (NII) rose by 46% at Rs1,109 crore against Rs760 crore, year-on-year (y-o-y). The bank's other income also rose to Rs676 crore versus Rs545 crore a year ago, while provisions fell to Rs282 crore compared to Rs542 crore, y-o-y.
Gross non-performing asset (NPA) rose by 1.76% as against 1.53% on an annual basis while it declined compared to 2.22% on quarter-on-quarter basis. Net NPA increased by 1.06% as against 1.02% on y-o-y basis and went down compared to 1.2% on q-o-q basis.
For the full-year ended 31 March 2011, the lender reported a net profit of Rs1,650.32 crore against Rs1,031.13 crore in the same period year-ago, a growth of 60.05%.
The board of directors of the bank has proposed a dividend of Rs3.50 per share for the year 2010-11.
However, on a consolidated basis, the bank reported a net profit of Rs1,563.51 crore for the year ended 31 March 2011 as compared to Rs1,020.53 crore in the same period last year.
For the financial year 2010-11, NII soared 92% to Rs4,329 crore from Rs2,256 crore while other income fell by 9% to Rs 2,083 crore from Rs 2,301 crore. Provisions increased to Rs1,876 crore as against Rs 1,681 crore a year earlier, the bank said.
"The figures of the current period include the working results of the two erstwhile wholly-owned subsidiary of the bank, namely, IDBI Home Finance and IDBI Gilts for the period from 1 January 2011 to 31 March 2011 consequent on merging with the bank. Accordingly, the figures of the previous year are not strictly comparable," it added.
TV channels that were expecting to wind down after the cricket World Cup, were pleasantly surprised by the additional revenues they earned from the interest in the protest at Jantar Mantar
Television viewer interest in Anna Hazare's hunger fast against corruption drew sizeable advertisement revenue amounting to about Rs176 crore for TV channels, according to a report by a television monitoring agency.
After the cricket World Cup final on 2nd April, it was generally felt that television ratings would slip. However, Anna Hazare's campaign for an effective law against corruption took the people by storm, immediately afterwards, giving television channels another reason to smile.
According to the report by Esha, the news monitoring agency, the coverage of the hunger protest at Jantar Mantar was a business delight for TV channels. The report says that on 5,657 video clips of the protest broadcast between 3rd April and 11th April, the channels earned Rs 175.86 crore.
Anna Hazare and his associates had announced their decision to undertake the hunger protest at the beginning of February. On 5th April, the activists marched to Jantar Mantar where they began the protest. As the word spread, thousands joined in from around the country, making it one of the most-viewed events (after the World Cup) this year.
Most of the advertisements reportedly poured in on 8th April, the day Mr Hazare gave the call for a 'jail bharo andolan', after the government rejected the option of including civil society activists in the drafting committee for the new Lokpal Bill. It was also the day when Baba Ramdev and other prominent figures joined Mr Hazare at New Delhi.
CNN IBN, with a share of Rs23 crore, garnered the maximum share, followed by NDTV 24X7 and Times Now respectively. Zee News, which gave maximum coverage, earned Rs580.75 lakh from advertisers.
The media hype surrounding the event was tremendous, and the 24X7 live coverage of the hunger protest kept the nation hooked. With many Bollywood stars and India's popular godmen declaring their support too, the anti-corruption agitation swept the nation. Social networking sites like Twitter and Facebook saw frenzied activity, with people joining the movement online, declaring their 'virtual presence' at Jantar Mantar in solidarity with Mr Hazare.
Feeling the pulse of the moment, the electronic media decided to go with the flow. The events at Jantar Mantar were reported in an overwhelming positive tone. Only a paltry 65 video clips had anything critical about Mr Hazare and the movement. Simultaneously, scorn was heaped on the government and politician. At the end, when the government agreed to his proposals and Anna Hazare ended the fast, a festive spirit engulfed the country.
The prime time slot, between 7pm and 11pm, received collections of Rs52 crore over eight days, while the non-prime time slot earned revenue of Rs123 crore. Among business channels, Zee Business was the top earner, with Rs191 lakh for prime-time coverage and Rs103 lakh in the non-prime time hours.
Understandably, the coverage was limited on the general channels. Among the regional channels, Marathi channels like IBN Lokmat and Star Majha gave the most coverage and earned the most.
The coverage has since normalised, although speculation continues over what will become of the Jan Lokpal Bill, or the representatives leading the case who will understandably be severely targeted. The media will be hoping it can squeeze some more revenue if interest is re-ignited in the saga.