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Indian Bank’s Q1FY14 net profit declines by 31%

29 Jul 2013 Evaluate

Indian Bank has reported results for first quarter ended June 30, 2013

The bank’s net profit for the quarter declined by 31.26% at Rs 317.39 crore as compared to Rs 461.75 crore for the corresponding quarter of the previous fiscal. Bank’s total income has increased by 16.65% to Rs 4195.48 crore for the quarter under review from Rs 3596.50 crore for the June quarter of the previous fiscal.

Gross NPAs in the first quarter of 2013-14 stood at 3.41% from 1.66% a year ago. The net non-performing assets (NPAs) or bad loans of the bank in April-June increased to 2.31% from 1.04% a year earlier.

Meanwhile, bank’s Capital Adequacy Ratio (CAR) of the bank under Basel III stood at 12.58% as on June 30, 2013.

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