Indian Bank Q1 net up 21% to Rs 372 cr on robust growth in other income

Bad loan provisions more than double in Q1 to Rs 681 cr from Rs 327 cr for Q1 of FY17

Public sector lender Indian Bank posted a 21 per cent rise in net profit at Rs 372 crore for the quarter ended June 2017, predominantly driven by robust growth in other income and a steady rise in net interest income.

The Chennai-based bank had posted a net profit of Rs 307 crore in April-June 2016 (first quarter of FY17).

Its stock was trading Rs 332 per share, up 0.5 per cent over the previous close, on the BSE.

The net interest income rose by 18 per cent to Rs 1,460 crore in the first quarter of FY18 from Rs 1,237 crore in the