Indian Bank falls despite reporting 55% rise in Q4 consolidated net profit

07 May 2024 Evaluate

Indian Bank is currently trading at Rs. 528.75, down by 4.30 points or 0.81% from its previous closing of Rs. 533.05 on the BSE.

The scrip opened at Rs. 540.80 and has touched a high and low of Rs. 547.95 and Rs. 526.10 respectively. So far 121071 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 573.45 on 08-Feb-2024 and a 52 week low of Rs. 267.25 on 01-Jun-2023.

Last one week high and low of the scrip stood at Rs. 554.60 and Rs. 525.45 respectively. The current market cap of the company is Rs. 71119.70 crore.

The promoters holding in the company stood at 73.84%, while Institutions and Non-Institutions held 22.24% and 3.92% respectively.

Indian Bank has reported results for fourth quarter (Q4) and year ended March 31, 2024.

The bank has reported 55.26% rise in its net profit at Rs 2,247.00 crore for the quarter under review as compared to Rs 1,447.28 crore for the same quarter in the previous year. Total income of the bank increased by 18.60% at Rs 16,887.02 crore for Q4FY24 as compared Rs 14,238.29 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported 54.60% rise in its net profit at Rs 2,260.31 crore for fourth quarter ended March 31, 2024 as compared to Rs 1,462.02 crore for the same quarter in the previous year. Total income of the bank increased by 18.38% at Rs 17,065.49 crore for Q4FY24 as compared Rs 14,415.98 crore for the corresponding quarter previous year. 

For the year ended March 31, 2024, the bank has reported 52.66% rise in net profit at Rs 8,062.94 crore as compared to Rs 5,281.70 crore for the previous year. Total income of the bank increased by 21.88% at Rs 63,481.50 crore for year under review as compared to Rs 52,085.27 crore for year ended March 31, 2023.

For the year ended March 31, 2024, on the consolidated basis, the bank has reported 52.50% rise in its net profit at Rs 8,129.15 crore as compared to Rs 5,330.48 crore for the previous year. Total income of the bank increased by 21.67% at Rs 64,231.68 crore for year under review as compared to Rs 52,789.66 crore for year ended March 31, 2023.

Indian Bank Share Price

540.25 -1.35 (-0.25%)
14-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
SBI 840.20
Bank Of Baroda 286.25
Canara Bank 120.80
PNB 128.90
Union Bank Of India 147.65
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.