Indian Bank Q4 net profit up 7% at Rs 438.8 cr

Indian Bank has reported 10.23% growth in financial year 2010-11 net profit of Rs 1,714 crore as against Rs 1,554 crore in previous year.

Net interest income (NII) went up by 27% to Rs 4,036.1 crore and operating profit was up by 19.8% to Rs 3,291 crore from Rs 2,747 crore. The bank has posted 7% growth in fourth quarter net profit of Rs 438.8 crore as against Rs 410 crore in same quarter the previous year. Total income was at Rs 2,866 crore in fourth quarter, 24% growth as compared to Rs 2,318 crore in previous quarter. Tier I capital stood at 11.02% and capital adequacy ratio was at 13.56% in Q4FY11. Earnings per share improved to Rs 38.79 versus Rs 35.09. Also watch the accompanying video for the full press conference.