Public sector lender Indian Bank has reported a net profit of Rs 526 crore in the third quarter of FY12, rising over 7% as compared to Rs 491 crore in a year ago quarter.
Net interest income went up nearly 13% to Rs 1,170 crore from Rs 1,037 crore year-on-year.
Numbers were less than analysts' expectations; CNBC-TV18 poll saw profit after tax of Rs 542.1 crore and net interest income of Rs 1,189 crore.
Gross non-performing assets (NPAs) increased at 1.35% versus 1.21% quarter-on-quarter.
The bank reported gross NPAs at Rs 1,190 crore versus Rs 1,047 crore and net NPAs at Rs 695 crore versus Rs 595 crore quarter-on-quarter.
Indian Bank made provisions of Rs 236 crore in the October-December quarter of FY12, which was much higher as compared to Rs 54 crore in the corresponding quarter of last fiscal and Rs 220 crore in an earlier quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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