Indian Bank posts 74% growth in PBT at Rs 390.35 crore for Q3FY20

The performance was in line with expectations, Padmaja Chunduru, MD & CEO, Indian Bank said

Indian Bank on Friday reported pre-tax profit (PBT) of Rs 390.35 crore during the quarter ended December 31, 2019 (Q3FY20), a growth rate of 74.8 per cent over the Rs 223.36-crore PBT posted in Q3FY19.

Other income, led by fee and profit on sale of investments, helped the bank post good numbers, it said.

Net profit jumped 62 per cent to Rs 247 crore during the period, against Rs 152 crore in Q3FY19.

The state-owned bank’s total income grew 23.4 per cent to Rs 6,504.46 crore, against Rs 5269.74 crore in the corresponding quarter last year.

Padmaja Chunduru, the bank’s managing director and chief