Indian Bank pre-tax profit up three-fold to Rs 593 cr; net NPA pared

Total income up 18%. post-tax profit up 2.5x to Rs 359 cr; one bad loan referred to RBI as fraud

Public sector lender, Indian Bank, has posted a three-fold growth in profit before tax at Rs 592.58 crore during the quarter ended September 30, 2019, from Rs 185.70 crore during the same quarter last year.

The bank's total income grew 18 per cent to Rs 6,047.14 crore during the quarter from Rs 5,130.47 crore in the corresponding quarter last year.

Net profit during the quarter grew about 150 per cent to Rs 358.78 crore from 149.19 crore during the same period last year.

The lender's gross non-performing assets (NPA) as a percentage of advances stood at 7.21 per cent during