Indian Bank Q2 standalone net more than doubles

Public sector Indian Bank on Wednesday said it has posted a 258.56 per cent jump in its net profit for the second quarter ending September 30, 2019.

The city-based bank recorded a net profit of Rs 358.56 crore from Rs 150.14 crore registered during the corresponding period last year, its managing director and CEO Padmaja Chunduru told reporters here.

For the six-month period ending September 30, 2019, the net profit grew to Rs 723.83 crore from Rs 359.45 crore during the same period last year, she said.

The total income for the July-September quarter went up to Rs 6,045.32 crore from Rs 5,129.16 crore in the corresponding period a year ago, Chunduru said.

For the six-month period ending September 30, 2019, the total income surged to Rs 11,877.44 crore from Rs 10,261.13 crore during a year ago, she said.

The bank shares ended at Rs 138.45 apiece up by 9.71 per cent over the previous close on BSE.