Indian Bank Q2 net profit up 12% to Rs 1,225 crore in July-Sept quarter

Public sector major Indian Bank has posted a 12 per cent rise in net profit during the second quarter of the financial year to Rs 1,225 crore,

Indian Bank has posted a 12 per cent rise in net profit during the second quarter of the financial year 2022-23 (Q2FY23) to Rs 1,225 crore, as compared to Rs 1,089 crore during the July to September quarter (Q2FY22) of the previous year.

The bank’s total income for the quarter stood at Rs 12,538 crore as against Rs 11,440.42 crore in the same period a year ago. 

During the period under review, the bank’s net interest income increased by 15 per cent to Rs 4,684 crore from Rs 4,084 crore in Q2 last year. 

The bank’s gross non-performing assets (NPAs) during the quarter decreased by 226 bps year-on-year to 7.30 per cent from 9.56 per cent, while its net NPAs reduced by 176 bps to 1.50 per cent from 3.26 per cent in September 2021.