Indian Bank Q1 net profit zooms 43% to Rs 307 crore

Indian Bank today reported a 42.77 per cent increase in net profit at Rs 307.36 crore for the first quarter ended June 30.

The bank had a standalone net profit of Rs 215.28 crore in the April-June quarter of the past financial year.

Total income also rose to Rs 4,512.96 crore during the June quarter, from Rs 4,494.53 crore in the same period in the previous financial year, Indian Bank said in a filing to the BSE.

The net non-performing assets of the bank rose to 4.48 per cent at the end of June 2016, from 2.62 per cent in June 2015.

The bank's provisioning increased to Rs 416 crore in the first quarter of current financial year, from Rs 408 crore in the same period last year.

Shares of Indian Bank were trading 5.80 per cent up at Rs 164.20 in the afternoon trade on the BSE.