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Indian Bank Q1 net profit rises 21% to Rs372 crore

LiveMint logoLiveMint 21-07-2017 PTI

New Delhi: Public sector lender Indian Bank has reported 21.16% rise in net profit to Rs372.40 crore for the first quarter ended 30 June of the 2017-18 fiscal.

The Chennai-based bank had standalone net profit of Rs307.35 crore in the April-June quarter of 2016-17. Its total income rose to Rs4,788.04 crore during the quarter under review, from Rs4,512.96 crore in the year-ago period, Indian Bank said in a BSE filing.

Gross non-performing assets (NPAs) of the bank rose to 7.21%, from 6.97% a year ago. Net NPAs, however, came down to 4.05% of net advances from 4.48%.

Provisions for bad loans were at Rs681.93 crore for the June quarter of the current fiscal in comparison to Rs327.42 crore in the same quarter a year ago.

Shares of the bank were trading 0.48% up at Rs999.50 on BSE.

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