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Indian Bank June quarter net profit surges 43% to Rs 307 cr

Initiatives to reduce cost, improve other income improved profit, says MD & CEO

Gireesh Babu  |  Chennai 

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.

Total income saw a marginal increase to Rs 4,512.96 crore during the quarter, as compared to Rs 3,394.53 crore during the corresponding quarter of previous year. Announcing the financial results of the first quarter of the fiscal year, Mahesh Kumar Jain, managing director and CEO of Indian Bank said that the lender has been taking various initiatives to reduce the ...

First Published: Tue, August 02 2016. 15:16 IST

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