Indian Bank has posted a growth of 42.77 per cent in net profit for the quarter ended June 30, 2016, at Rs 307.36 crore as against Rs 215.27 crore net profit registered during the same quarter of previous fiscal year.
Indian Bank has surged 12% to Rs 174, also its 52-week high on the BSE in intra-day trade, after reporting 43% year on year (YoY) jump in net profit at Rs 307 crore for the quarter ended June 30, 2016 (Q1FY17).
Indian Bank has had a net profit of Rs 215 crore for the quarter ended June, up four per cent compared to Rs 207 crore for the quarter ended June 2014.Profit was impacted due to mark-to-market losses (writing down these assets on current values) in its
Indian Bank has posted a drop of 24 per cent in net profit at Rs 206 crore during the quarter ended March, as compared to a net profit of Rs 271.3 crore, posted during the corresponding quarter of previous financial year.
Two public sector banks, Andhra Bank and Indian Bank, have slapped notices on 7 Acres Studios, located adjacent to the main Annapurna Studios in the upmarket Jubilee Hills in Hyderabad, for recovering loans to the tune of Rs 62 crore.
Indian Bank today informed BSE that the Board will hold an EGM of the shareholders of the Bank on March 23 for obtaining their approval for the proposed preferential issue of equity shares amounting to Rs 280 crore to the Government of India.