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Indian Bank Q1 net slips 43.7 percent to Rs 209.31 crore

The city-headquartered bank had recorded net profits of Rs 372.40 crore in the corresponding period last year. For the year ending March 31, 2018 the bank's net profits stood at Rs 1,258.99 crore.

August 08, 2018 / 09:56 PM IST
We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

We are in the last phase of the September quarter earnings season, and the results announced by the BSE 500 companies so far have shown signs of a sharp recovery, as compared to the June quarter, when the economic activity in the country was compromised due to lockdown in various regions. From the BSE 500 list, 216 companies have announced their September quarter results so far. We excluded banking and financial companies.  Along with the index stocks we also analyse each sector quarterly earnings. (Data Source: ACE Equity)

Public sector Indian Bank on Wednesday reported a 43.7 percent decline in net profits for the quarter ending June 30, 2018, to Rs 209.31 crore.

The city-headquartered bank had recorded net profits of Rs 372.40 crore in the corresponding period last year. For the year ending March 31, 2018 the bank's net profits stood at Rs 1,258.99 crore.

Total income for the April-June 30, 2018 quarter went upto Rs 5,131.96 crore from Rs 4,788.04 crore registered in the same period of the previous year.

For the year ending March 31, 2018 total income was Rs 19,519.48 crore. Gross NPA as on June 30, 2018, stood at 7.20 percent as against 7.21 percent recorded in the same period last year.

Net NPA as on June 30, 2018, stood at 3.79 percent as against 4.05 percent in the corresponding period in 2017. The bank shares ended at Rs 354.80 apiece, down by 5.20 percent over the previous close in the BSE.

PTI
first published: Aug 8, 2018 09:30 pm

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