IndBank Q2 net up 164% to Rs 1,089 cr on surge in other income, recoveries

Gross NPAs come down to 9.56% form 9.89% a year ago; advances up 5%

State-run lender Indian Bank has posted a 164 per cent rise in net profit for the second quarter of the financial year ended September 2021 to Rs 1,089 crore as against Rs 412 crore during the same time last financial year.

The bank's net interest income declined marginally by about one per cent in Q2FY22 to Rs 4,084 crore from Rs 4,144 crore in Q2FY21. The Chennai-based bank’s net interest margin (NIM) (Domestic) was 2.89 per cent for Q2FY22 as against 3.06 per cent for Q2FY21. Operating profit during the quarter under review was Rs 3,276 crore, as against Rs