Indian Bank posted a 7.3% year-on-year rise in net profit to Rs 3,061.48 crore for the December quarter, supported by stronger core income and improved asset quality. Net interest income grew 7.5% to Rs 6,895 crore, while provisions and contingencies fell to Rs 857.02 crore from Rs 1,059.13 crore a year ago.
The lender reported sequential improvement in asset quality, with gross NPAs declining to 2.23% from 2.60% and net NPAs easing to 0.15% from 0.16%. Gross advances climbed 14.24% to Rs 6.39 lakh crore, while total deposits rose 12.62% to Rs 7.91 lakh crore. Domestic CASA ratio stood at 39.08% and the CD ratio at 80.77%.
Capital adequacy also strengthened to 16.58%. Indian Bank shares rose 5.7% to Rs 897, extending strong gains across the last one month and year.
