Indian Bank Q4 results: Net profit rises 32% at Rs 2956 crore
The bank board recommended a dividend of Rs.16.25 per equity share for FY25. This is at the rate of 162.50% of paid up equity capital of the bank. The record date for payment of dividend will be June 10.
Indian Bank's Q4 net profit surged 31.6% to ₹2956 crore, driven by improved asset quality and higher net interest income. The board proposed a dividend of ₹16.25 per share. Gross NPA ratio fell to 3.09%, with a provision coverage ratio of 98.10%. Advances grew 10%, supported by retail, agriculture, and MSME sectors.
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Kolkata: State-owned Indian Bank on Saturday reported a 31.6% year-on-year rise in fourth quarter net profit at Rs 2956 crore against Rs 2247 crore in the year ago-period.Its net interest margin for the quarter stood at 3.37% as compared with 3.44% earlier.The bank board recommended a dividend of Rs.16.25 per equity share for FY25. This is at the rate of 162.50% of paid up equity capital of the bank. The record date for payment of dividend will be June 10.The bank's operating profit for the quarter stood 17% higher at Rs 5019 crore as compared with Rs 4305 crore in the year ago period.Net interest income rose 6% year-on-year at Rs 6389 crore. Other income was 21% higher at Rs 2743 crore.Its asset quality improved with gross non-performing assets ratio falling 86 basis points to 3.09% at the end of the fiscal year from 3.95% a year back while its provision coverage ratio rose 176 basis points to 98.10%.The Chennai-headquartered lender's gross advances increased 10% year-on-year to Rs 5.88 lakh crore at the end of FY25, backed by a 13% rise in retail, agriculture and MSME advances, which cumulatively contributed 64.23% to the total portfolio.Its total deposits rose 7% to Rs 7.37 lakh crore with the ratio of low-cost current and savings account deposit being at 40.17%.The bank board approved a plan to raise equity capital up to Rs.5000 crore and debt capital up to Rs.2000 crore.
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