IDBI Bank Ltd has posted a 32.5 per cent rise in its net profit at Rs 36.3 crore (Rs 363 million) for the third quarter ended December 31, 2003 as against Rs 27.4 crore (Rs 274 million) in the same period last fiscal.

The total income of the reporting quarter rose to Rs 138.9 crore (Rs 1,389 million) from Rs 111.8 crore (Rs 1,118 million) in October-December 2002, the bank said in a release in Mumbai on Tuesday.

The net interest income and fee-based income in Q3 grew to Rs 88.8 crore (Rs 888 million) [Rs 53.1 crore (Rs 531 million) as on October-December 2002] and Rs 46.5 crore (Rs 465 million) [Rs 34.1 crore (Rs 341 million)], it said.

The deposit base in the third quarter rose to Rs 8,431 crore (Rs 84.31 billion) as on December 31, 2003. The cost of deposits came down to 4.3 per cent from 6.1 per cent in Q3 of 2002-03, it said.

On net non-performing assets performance, the private sector bank said even after application of 90-day norm to classify account as NPA, the ratio has dropped to 0.4 per cent.

Net profit and total income for the nine-month period stood at Rs 94.8 crore (Rs 948 million) [Rs 54.7 crore (Rs 547 million)] and Rs 389.7 crore (Rs 3,897 million) [Rs 264.6 crore (Rs 2,646 million)] respectively, it added.