Indian Bank reports 43% rise in Q1 net profit

Indian Bank has reported results for first quarter ended June 30, 2016.

The bank has reported a rise of 42.77% in its net profit at Rs 307.36 crore for the quarter ended June 30, 2016 as compared to Rs 215.28 crore for the same quarter in the previous year. Total income of the bank increased by 0.41% to Rs 4512.96 crore for the quarter under review, from Rs 4494.54 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 6.97% as compared to 4.65% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 4.48% in Q1FY17.