Indian Bank reported its Q3 earnings on Tuesday, posting a 35% year-on-year rise in net profit to ₹2,852 crore, compared to ₹2,119 crore in the same quarter last year.
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The growth was supported by a 33.2% increase in net interest income (NII), which stood at ₹6,415 crore against ₹5,814 crore in Q3 FY24.
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The bank’s asset quality strengthened, with gross non-performing assets (NPAs) reducing to 3.26% from 3.48% in the previous quarter, while net NPAs declined to 0.21% from 0.27%.
Investor sentiment remained positive following the results, driving the public sector bank’s stock 5.56% higher to ₹543.25 on the BSE as of 1:37 PM.
Also Read: CSB Bank Q3 Results: Net profit flat, NII dips 2%; asset quality improves marginally
First Published: Jan 29, 2025 1:49 PM IS
