Indian Bank reports over 3-fold jump in Q4 net profit

25 Apr 2017 Evaluate

Indian Bank has reported result for the fourth quarter and year ended March 31, 2017.

The Bank has posted over 3-fold jump in its net profit at Rs 319.70 crore for the quarter ended March 31, 2017 as compared to Rs 93.62 crore for the same quarter in the previous year. Total income of the Bank has increased marginally by 1.75% at Rs 4601.89 crore for quarter under review as compared to Rs 4522.73 crore for the quarter ended March 31, 2016.

For the year ended March 31, 2017, the Bank has posted around two-fold surge in its net profit at Rs 1405.68 crore as compared to Rs 711.38 crore for the same period in the previous year. Total income of Bank increased slightly by 1.25% at Rs 18251.12 crore for year under review as compared to Rs 18025.20 crore for the period ended March 31, 2016.

For the year ended March 31, 2017, on the consolidated basis, the Bank has posted rise of 93.41% in its net profit at Rs 1453.06 crore as compared to Rs 751.29 crore for the same period in the previous year. Total income of Bank increased marginally by 1.27 % at Rs 18261.62 crore for year under review as compared to Rs 18033.20 crore for the period ended March 31, 2016.

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