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Indian Bank reports 50% fall in Q3 net profit

25 Jan 2019 Evaluate

Indian Bank has reported results for third quarter ended December 31, 2018.

The Bank has reported 49.76% fall in its net profit at Rs 152.27 crore for the quarter under review as compared to Rs 303.06 crore for the same quarter in the previous year. However, total income of the Bank increased by 7.47% at Rs 5269.10 crore for Q3FY19 as compared Rs 4903.07 crore for the corresponding quarter previous year.

The Bank’s gross NPA for the October-December quarter of the current fiscal increased to 7.46%, as compared to 6.27% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 4.42% in Q3FY19.

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