Indian Bank hits lifetime high on strong Q4 results

The stock moved higher to its lifetime high of Rs 319, up 12% on BSE in intra-day trade.

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Illustration: Ajaya Mohanty

SI Reporter Mumbai

Last Updated : Apr 25 2017 | 1:40 PM IST

Indian Bank moved higher to its lifetime high of Rs 319, up 12% on BSE in intra-day trade after reported an over three-fold jump in net profit at Rs 320 crore for the quarter ended March 2017 (Q4FY17), on back of higher operational income. The public sector lender had profit of Rs 94 crore in year ago quarter.

Net interest income (interest earned minus interest expended) rose 22% at Rs 1,385 crore during the quarter under review against Rs 1,134 crore in the corresponding quarter of previous fiscal.

The bank’s assets quality improved sequentially, with gross non-performing assets

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