Indian Bank reported 35% rise in net profit for the third quarter ended December 31, 2024 to ₹2, 852 crore, compared with ₹2,119 crore in the year-earlier period.
Net Interest Income (NII) increased 10% year on year to ₹6,415 crore, the bank said in a filing.
During the quarter, the bank made provisions of ₹1,059 crore, of which ₹611.23 crore was towards non-performing assets (NPAs) as compared with ₹1,349 crore, of which provisions for NPA was ₹906 crore.
Percentage of gross NPA (GNPA) decreased by 121 bps YoY to 3.26% from 4.47% in the year-ago period., while net NPA (NNPA) percentage reduced by 32 bps to 0.21% from 0.53% in the same period last year. Provision coverage ratio improved by 219 bps YoY to 98.09% from 95.90% a year earlier. Slippage ratio improved by 50 bps to 0.78% from 1.28% in the same period last year. Gross advances during the quarter increased by 10% YoY to ₹5,59,199 crore. Retail, agriculture and MSME (RAM) advances grew by 13% YoY to ₹3,34,739 crore. Total deposits increased by 7% YoY and reached ₹7,02,282 crore at the end of the quarter, the bank said.
Published – January 29, 2025 07:17 pm IST
