Indian Bank reported a 14.7% year-on-year (YoY) increase in net profit to Rs 3,462 crore for the September quarter (Q2 FY27), compared with Rs 3,018 crore in the corresponding quarter last year.
Net interest income (NII) rose 18% YoY to Rs 7,719 crore from Rs 6,551 crore a year ago. Operating profit surged 47% to Rs 7,090 crore, compared with Rs 4,836 crore in the year-ago period.
Other income increased to Rs 3,953 crore from Rs 2,487 crore in the corresponding quarter last year.
On the asset quality front, Indian Bank's gross non-performing assets (NPA) ratio improved to 1.61% in Q2 FY27 from 1.86% in the previous quarter. The net NPA ratio also eased to 0.14% from 0.15% quarter-on-quarter.
However, provisions increased to Rs 2,222 crore from Rs 1,196 crore in the previous quarter and Rs 739 crore in the year-ago period.
Indian Bank is a Chennai-headquartered public sector bank established on August 15, 1907, and owned by the Government of India, which holds approximately 73.84% of its equity.
The bank merged with Allahabad Bank on April 1, 2020. It operates over 6,000 domestic branches and serves more than 141 million customers. Binod Kumar is the bank's managing director and chief executive officer (MD & CEO).
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