Indian Bank Q4 profit down 7 pc to Rs 271.28 crore

State-owned Indian Bank today reported 7.1 per cent decline in net profit to Rs 271.28 crore in the fourth quarter ended March 31.

The bank had posted a profit of Rs 292.12 crore in the January-March quarter of 2012-13, according to a filing to the BSE.

Total income of the bank increased to Rs 4,234.83 crore from Rs 4,022.46 crore.

For 2013-14, the bank recorded 27 decline in profit to Rs 1,158.94 crore from Rs 1,581.13 crore in the previous financial year.

Total income in 2013-14 rose to Rs 16,620.88 crore from Rs 15,179.41 crore in 2012-l3.

The board of the bank has proposed a final dividend of 17 per cent or Rs 1.70 per share of face value of Rs 10 for 2013-2014.
 

The bank's gross non-performing assets (NPAs), or bad loans, as a percentage of total advances, rose to 3.67 per cent from 3.33 per cent in the same quarter a year ago.

Net NPAs stood at 2.26 per cent at the end of March 2013.