IDBI net dips by 19 pc

However, due to 19.8 per cent rise in interest expenses 8211; displaying thinning spreads for IDBI 8211; the operating profitof the institution fell by 27.5 per cent for Q1 2000 to Rs 352 crore from Rs 486 crore in Q1 1999.

IDBI made provisions for tax to the tune of Rs 10 crore for tax in Q1 2000 compared to Rs 78 crore in Q1 1999. IDBI8217;s sanctions for project finance in Q1 2000 dropped to Rs 3,216 crore from Rs 3,751 crore in Q1 1999, while disbursements in the same portfolio fell by a whopping 50 per cent to Rs 882 crore in Q1 2000 from Rs 1,778 crore. Sanctions under non-project finance also fell from Rs 1,844 crore in Q1 1999 to Rs 1,216 crore in Q1 2000. However, disbursements were up at Rs 775 crore from Rs 663 during the same corresponding quarter last year.

IDBI mobilised Rs 1,525 crore worth of resources in the first quarter of the current fiscal out of which rupee resources account for Rs 1,086 crore.