Moneycontrol
Last Updated : Nov 09, 2018 01:50 PM IST | Source: Moneycontrol.com

Indian Bank falls 9% on weak Q2 numbers

The bank reported gross non-performing assets (NPAs) ratio of 7.16 percent against 7.20 percent in the previous quarter.

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Indian Bank shares shed more than 9 percent intraday Friday after company reported weak set of numbers for the quarter ended September 2018.

The company 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 versus 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 13:42 hrs Indian Bank was quoting at Rs 239, down Rs 23.10, or 8.81 percent on the BSE.
First Published on Nov 9, 2018 01:50 pm
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