Indian Bank today reported a 61% increase in net profit at Rs 307.50 crore for the third quarter ended December 31, 2007 when compared with Rs 190.47 crore in Q3FY07.According to a release issued to the BSE today, total income increased to Rs 1,676 crore from from Rs 1,229.54 crore for the quarter ended December 31, 2006.