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Indian Bank has rallied to its 52-week high of Rs 279, up 8% on the BSE after reporting a more than seven-fold jump in net profit at Rs 373 crore for the quarter ended December 2016 (Q3FY17) due to lower provisioning for bad loans. The state-owned bank had posted profit of Rs 48 crore during the same quarter last fiscal.
Net interest income, the difference between interest earned and interest expended, grew by 12.2% to Rs 1,247 crore while other income (non-interest income) surged 34% to Rs 600 crore over the previous year quarter.
Provisions for bad loans
Net interest income, the difference between interest earned and interest expended, grew by 12.2% to Rs 1,247 crore while other income (non-interest income) surged 34% to Rs 600 crore over the previous year quarter.
Provisions for bad loans
