State-owned lender Indian Bank announced its financial performance for the March quarter and fiscal year ended March 31 today, 29 April, during market hours, reporting steady growth in operating performance along with an improvement in asset quality.
The lender reported a net profit of ₹3,103 crore, a 5% increase from ₹2,956 crore in the year-ago quarter.
Net interest income (NII) — the difference between interest earned from lending and interest paid to depositors — surged 11.28% year-on-year to ₹7,110 crore. In the corresponding quarter last year, the bank had reported NII of ₹6,389 crore.
Pre-provision operating profit (PPOP) stood at ₹5,285 crore in Q4 FY26, compared to ₹5,018 crore in the corresponding quarter of the previous year, as per the company’s earnings filing.
In terms of asset quality, the gross non-performing assets (GNPA) and net non-performing assets (NNPA) ratios declined by 111 basis points and 4 basis points year-on-year to 1.98% and 0.15%, respectively.
Provisions, however, rose sharply to ₹1,228 crore during the March quarter, marking a significant jump from ₹794 crore a year ago, partly due to a ₹308.40 crore provision made in light of the ongoing West Asia crisis. In the December quarter, the bank declared provisions of ₹857 crore, its earnings filing showed.
(more to come)