Indian Bank Q2 net profit at Rs 1,089 crore

Chennai : Public sector Indian Bank closed the second quarter of the current fiscal with a net profit of Rs 1,089 crore.
In a regulatory filing, the bank said it had posted a net profit of about Rs 1,089 crore for the second quarter, up from about Rs 412 crore posted during the previous year corresponding period.
During period under review, the bank had earned a total income of Rs 11,440.41 crore, down from Rs 11,615.90 crore earned during Q2 of FY21.
For the quarter under review Indian Bank’s total provision stood at Rs 2,547.15 crore (previous year Rs 2,230.90 crore) out of which the provision against non-performing assets (NPA) was Rs 2,215.58 crore (Rs 1,880.19 crore).
The gross and net NPA as on September 30, 2021 stands at Rs 36,886.07 crore and Rs 11,749.16 crore as against the figures of Rs 36,197.97 crore and Rs 10,052.21 crore as on September 30, 2020.
Fresh slippages were lesser at Rs 3,952 crore compared to Rs 4,204 crore in Q1.