Indian Bank Q1 results, net profit up by 41% YoY

The Capital Adequacy Ratio is improved by 69 bps to 16.47% CET-I improved by 111 bps YoY to 13.42%, Tier I Capital improved by 105 bps YoY to 13.93%

Indian Bank Q1 results, net profit up by 41% YoY

Public Sector Lender Indian Bank has announced the quarterly financial results of 2024-25 where the net Profit is up by 41% YoY at Rs 2403 Cr in Jun'24 from Rs 1709 Cr in Jun'23.

Operating Profit improved by 9% YoY to Rs 4502 Cr in Jun'24 from Rs 4135 Cr in Jun'23. Interest income grew 15% to Rs 15,039 crore as against Rs 13,049 crore.

 Net interest income reported an increase of 8% at Rs 6,178 crore as against Rs 5,703 crore.

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 Total non-interest income grew 11% to Rs 1,906 crore against Rs 1,710 crore a year–ago, driven by fee income and recovery of bad debts. Gross NPAs declined to 3.77% in Q1  from 3.91% in the March 2024 quarter and 5.47% in the June 2023 quarter. Net NPA remained below 1% and stood at 0.39% down from 0.43 % in the previous quarter and 0.70% in the previous year quarter.

The cost-to-income ratio increased to 44.31% from 44.22% in the year-ago quarter. Domestic CASA ratio stood at 41% as on 30thJun'24.  Provision Coverage Ratio (PCR, including TWO) improved by 156 bps YoY to 96.66% in Jun'24from 95.10% in Jun'23.

The Capital Adequacy Ratio is improved by 69 bps to 16.47% CET-I improved by 111 bps YoY to 13.42%, Tier I Capital improved by 105 bps YoY to 13.93%

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