Mumbai, Oct. 17 -- IDBI Bank reported a 39 per cent year-on-year decline in net profit to Rs 2,205 crore for the July-September quarter of FY27, largely due to a one-time gain recorded last year, while its underlying profit grew 14 per cent amid stronger interest income and improving asset quality.

According to the bank's earnings release, net profit stood at Rs 3,627 crore in the corresponding quarter last year, which included a one-time gain of Rs 1,699 crore from the sale of its strategic investment in National Securities Depository Limited (NSDL).

The bank stated, "Excluding this one-off gain, YoY increase in Operating Profit and Net profit is 59% and 14% for Q2 FY27 respectively."

Operating profit stood at Rs 2,893 crore, compared...