Indian Bank reports Rs.2707 crore Profit in Sep 2024 Quarter, Download Results

State-owned Indian Bank reported a 36% rise in profit for the second quarter ending September 2024, reaching ₹2,707 crore, compared to ₹1,988 crore in the same period last year. Click here to check Net Profit of all Banks for September 2024 Quarter.

Financial Performance

• Total Income: Increased to ₹17,770 crore in Q2 FY25 from ₹15,736 crore in Q2 FY24, as disclosed in the regulatory filing.
• Interest Income: Rose to ₹15,348 crore during the quarter, up from ₹13,743 crore a year earlier.
• Net Interest Income (NII): Improved by 8%, standing at ₹6,194 crore compared to ₹5,741 crore in Q2 FY24.

Asset Quality

Indian Bank reported a strengthened asset quality:

• Gross Non-Performing Assets (NPAs): Declined to 3.48% of gross loans by September 2024, down from 4.97% in the same quarter last year.
• Net NPAs: Dropped to 0.27% from 0.60% year-on-year.

Additional Financial Metrics

• Provision Coverage Ratio (PCR): Increased to 97.60% from 95.64% in September 2023.
• Capital Adequacy Ratio (CAR): Improved by 102 basis points, reaching 16.55% from 15.53% at the end of Q2 FY24.

Indian Bank’s results indicate a solid financial position, with rising profits, stronger asset quality, and improved capital adequacy. Click here to check Net Profit of all Banks for September 2024 Quarter.

Half-Yearly Financial Results 2024-25

• Reviewed Financial Results-Consolidated
• Reviewed Financial Results-Standalone
• Segment Wise Results -Consolidated
• Segment Wise Results -Standalone
• Statement of Asset and Liabilities- Consolidated
• Statement of Asset and Liabilities- Standalone
• Cash flow Statement- Consolidated
• Cash flow Statement- Standalone
• Notes forming part of Reviewed Financial Results for September 2024
• Presentation September 2024
• Press Release September 2024