Another bank released results- profit increased by Rs 718 crore, stock jumped by 8%

Indian Bank has announced the results of the first quarter of the current financial year. The bank said that there has been a significant increase in its profits. The bank's profit has increased from Rs 1988 crore to Rs 2706 crore on an annual basis.

 

The bank said that the interest income (NII) has increased from Rs 5,740 crore to Rs 6,195 crore annually. The bank's gross NPA has declined. Gross NPA has decreased from 3.77% to 3.48% on a quarter-on-quarter basis. Net NPA has decreased from 0.39% to 0.27% on a quarter-on-quarter basis.

KALYANI STEELS Q2: Kalyani Steel has also announced its quarterly results. The company said that its profit has increased from Rs 58 crore to Rs 67 crore annually. The company's income has increased from Rs 480 crore to Rs 492 crore. The company's EBITDA has increased from Rs 93 crore to Rs 96 crore. EBITDA margin has increased from 19.4% to 19.5% annually. FIRSTSOURCE Q2: Firstsource has also announced its quarterly results. On a quarter-on-quarter basis, the company's profit increased from Rs 135.2 crore to Rs 138.2 crore. The company's earnings increased from Rs 1791 crore to Rs 1925.4 crore. Talking about EBITDA, it has increased from Rs 197 crore to Rs 208 crore and the EBIT margin has decreased from 11% to 10.8%.

Read More: IPO News: Mumbai's luxury food service company is bringing its IPO, filed draft papers