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Indian Bank posts multifold jump in Q1 net profit to Rs. 1,182 crore

IBEF:  July 20, 2021

On Monday, Indian Bank registered an increase in the net profit at Rs. 1,182 crore (US$ 158.19 million) in the first quarter of FY21. The net profit stood at Rs. 369 crore (US$ 49.38 million) in the same period last year.

Indian Bank stated in a regulatory filing, “Between April 2021 and June 2021, the total income increased to Rs. 11,500.20 crore (US$ 1.54 billion), from Rs. 11,446.71 crore (US$ 1.53 billion) in the same period last year.”

In the first quarter of FY21, the interest income stood at Rs. 9,624 crore (US$ 1.29 billion), as compared to Rs. 10,120 crore (US$ 1.35 billion) a year ago.

On Monday, on BSE, shares of Indian Bank increased 0.80% to close at Rs. 139.25 (US$ 1.86) apiece.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.