Indian Bank Q1 profit jumps 43%, NPAs rise

Public sector lender Indian Bank   said profit in April-June quarter grew by 42.8 percent to Rs 307.4 crore compared with Rs 215.3 crore in year-ago period.


Gross NPA on absolute basis grew by 0.8 percent QoQ to Rs 8,894 crore and net NPA was up 2.4 percent at Rs 5,552 crore in the quarter ended June 2016.


Provisions for bad loans stood at Rs 417 crore during the quarter, increased by 2.2 percent year-on-year and 48.7 percent quarter-on-quarter.