Indian Bank Q4 loss before tax narrows to Rs 188 cr from Rs 393 cr

Indian Bank has reported loss before tax of Rs 188.60 crore for the quarter ended March 31, 2020 as against a loss of Rs 393.42 crore, during the same period last year. Net loss of the bank stood at Rs 217.7 crore during the fourth quarter.

Total income grew to Rs 6,334.36 crore during the quarter from Rs 5,537.46 crore during same period last year. Net interest income grew by 13.6 per cent to Rs 2,002.7 crore from Rs 1,763.5 crore, during the same period last year.

Indian Bank's provisions stood at Rs 1,891.9 crore as against Rs 1,529.3 cr (QoQ).

Gross NPA rose by 2.1 per cent quarter-on-quarter to Rs 14,150.8 crore from Rs 13,862.3 crore, while net NPA dropped by 4.7 per cent to Rs 6,184.2 crore from Rs 6,487.6 crore. As per centage GNPA dropped by 30 bps to 6.9 per cent from 7.2 per cent, while Net NPA dropped by 40 bps to 3.1 per cent from 3.5 per cent.

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