desk
Share
News Topical, Digital Desk : Indian Bank, a public sector bank listed on BSE 200, has released its June quarter results. After the results, buying has been seen in the stock. According to the data released by the bank, the profit in the first quarter has increased by 24 percent on a year-on-year basis. At the same time, there was a 3 percent increase in the net interest income. At the same time, the bank's NPA is improving on a quarter-on-quarter basis. After the results, the stock has seen a rise of about 3 percent.
How were the quarterly results?
The bank's profit has increased by 23.7 percent compared to last year and has increased from Rs 2403 crore to Rs 2973 crore. The bank's net interest income has increased by 2.9 percent on a year-on-year basis and has increased from Rs 6178 crore to Rs 6359 crore. Net interest income is the difference between the interest income earned by the bank and the interest paid by the bank to its customers. Apart from this, the bank's gross NPA has improved on a quarter-on-quarter basis and has improved from 3.09 percent to 3.01 percent compared to the March quarter. The bank's net NPA has remained at 0.18 percent which was at 0.19 percent in the March quarter.
How was the stock's performance? The stock has seen a rise with the results. The stock has reached the level of 647.25 after the release of the results, which is 3 percent higher than the previous closing level of 624.65. The stock is currently close to its year's high of 658 which the stock had registered early last month.
--Advertisement--
