Shares of state-owned Indian Bank on Friday jumped nearly 10 per cent after the lender posted in the first quarter of the current financial year.
The stock surged 9.84 per cent to settle at ₹870.95 on the BSE. During the day, it zoomed 10.34 per cent to ₹874.95.
At the NSE, the stock closed 9.77 per cent higher at ₹870.70.
Following the rally in the shares, the company’s market valuation surged ₹10,506.33 crore to ₹1,17,313.83 crore.
Indian Bank on Friday posted a 10 per cent rise in its net profit to ₹3,273 crore in the June quarter of FY27.
The Chennai-based lender had earned a net profit of ₹2,973 crore in the same quarter of the previous fiscal.
The lender’s total income increased to ₹20,724 crore during the June quarter of 2026-27 from ₹18,721 crore in the same period of FY26, Indian Bank said in a regulatory filing.
Interest earned by the bank also improved to ₹18,090 crore, compared to ₹16,283 crore in the year-ago period.
Net Interest Income (NII) increased by 17 per cent to ₹7,435 crore from ₹6,359 crore in the June quarter of FY26, it said.
The bank’s asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.86 per cent of gross advances at the end of the June quarter from 3.01 per cent a year ago.
Similarly, net NPAs, or bad loans, declined to 0.15 per cent, against 0.18 per cent in the year-ago period.
As a result, provisions for bad loans declined to ₹376 crore during the first quarter from ₹387 crore in Q1FY26.