Moneycontrol
Last Updated : Nov 09, 2018 01:51 PM IST | Source: Moneycontrol.com

Indian Bank posts 67% fall in Q2 net profit at Rs 150.1 crore; asset quality worsens

The bank reported gross NPA of Rs 12,334 crore against Rs 11,828 crore during previous quarter. The net NPA, too, rose at Rs 7,060 from Rs 5,999 crore last quarter.

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Indian Bank reported a fall of 66.8 percent year on year in its net profit for the September quarter. The lender reported a profit of Rs 150.1 crore. A year ago, it posted a profit of Rs 451.5 crore.

The net interest income (NII) was reported at Rs 1,730.93 crore, a jump of 12 percent from Rs 1,543.7 crore during the corresponding quarter of last year.

The bank reported gross non-performing assets (NPAs) ratio of 7.16 percent against 7.20 percent in the previous quarter. The net NPA ratio, however, rose to 4.23 percent from 3.79 percent last quarter.

Meanwhile, the bank reported gross NPA of Rs 12,334 crore against Rs 11,828 crore during previous quarter. The net NPA, too, rose at Rs 7,060 from Rs 5,999 crore last quarter.

The lender reported provisions of Rs 1,004 crore from Rs 1,030 crore during the June quarter. The loan growth has been reported at 19.9 percent year on year.

At 13:36 hrs Indian Bank was quoting at Rs 241.05, down Rs 21.05, or 8.03 percent, on the BSE. It touched an intraday high of Rs 266.35 and an intraday low of Rs 240.60.
First Published on Nov 9, 2018 01:39 pm
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