Indian Bank on Wednesday reported over a two-fold rise in net profit at Rs 358.56 crore for the September quarter.
The state-owned lender had posted a net profit of Rs 150.1 crore in the year-ago quarter.
Total income increased to Rs 6,045.32 crore for the September quarter, from Rs 5,129.16 crore in the same period last year, the bank said in a regulatory filing.
Asset quality remained stable with the gross non-performing assets (NPAs) marginally rising 7.20 per cent of the advances as on end-September 2019, as against 7.16 per cent by September 2018.
However, net NPAs declined to 3.54 per cent of the advances at the end of second quarter of this fiscal, from 4.23 per cent in the year-ago period.
The bank's provisioning for bad loans and contingencies declined to Rs 909.36 crore for the quarter under review, from Rs 1,004.3 crore in second quarter of 2018-19.
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Provision for bad loans too declined to Rs 720.90 crore for the July-September quarter, from Rs 752.47 crore in the year-ago period.
Shares of Indian Bank settled at Rs 142.90 apiece on the BSE, up 13.23 per cent over previous close.