Indian Bank Q3 net profit up 11.34% at Rs 491 cr

State-owned Indian Bank has declared its results for the quarter ended December 2010. It has reported net profit of Rs 491 crore as against Rs 441 crore, a growth of 11.34% on year-on-year basis and went up by 18.11% from Rs 415.7 crore (QoQ).

Net interest income jumped to 18.9% to Rs 1,038 crore from Rs 873 crore (YoY) and rose 5.6% from Rs 983 crore (QoQ).

Net non-performing assets increased to Rs 418 crore in Q3FY11 from Rs 90 crore in same period of previous year.

Highlights
-Net NPA: 0.57% versus 0.16%
-GNPA: Rs 752.2 crore versus Rs 514.2 crore
-GNPA: 1.02% versus 0.89%
-Provisions: Rs 53.5 crore versus Rs 32 crore
-Operating profit: Rs 811.9 crore versus Rs 690.6 crore
-Other income: Rs 248.6 crore versus Rs 339.4 crore
-Operating expenses: Rs 474.4 crore versus Rs 475.8 crore
-2nd Pension Liability: Rs 14 crore provided
-Total provision required for 2nd pension liability: Rs 280 crore
-PCR: 83.01%

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd