Indian Bank Q3 results: Net profit rises 35% to ₹2,852 crore, NII surges 10%

The increase in profit was bolstered by core income. The bank’s net interest income (NII) stood at ₹16,415 crore, rising 10% from ₹15,815 crore in the third quarter ended December 31, 2023 (Q3 FY24).

Its interest income rose 10.99% to ₹15,759 crore during the quarter under review from ₹14,198 crore in the year-ago period.

The state-owned bank’s total income surged 11.26% YoY to ₹17,912 crore in Q3 FY25, compared to ₹16,099 crore in the same period a year ago.

Its operating profit grew to ₹4,749 crore against ₹4,097 crore in Q3 FY24.

Asset quality

The Chennai-based bank's gross non-performing assets ratio (GNPA) improved to 3.26% in the quarter under review, compared to 4.47% a year ago.

Similarly, net NPAs, or bad loans, came down to 0.21% from 0.53% at the end of the third quarter of the last fiscal.

As a result, the overall provisions, excluding tax, declined to ₹1,059 crore during the quarter from ₹1,349 crore in Q3 FY24.

The provision coverage ratio on non-performing loans improved to 98.09% as of December 31, 2024, against 95.90% at the end of December 31, 2023.

Capital Adequacy Ratio increased to 15.92% from 15.58% at the end of the third quarter of the previous financial year.

Network

As of December 31, 2024, Indian Bank’s network spanned over 5,877 domestic branches, including three Digital Banking Units (DBU), 1,987 rural, 1,543 semi-urban, 1,179 urban and 1,168 metro branches. Additionally, the bank had three overseas branches and one international Financial Services Centre Banking Unit (IBU) in Gift City, Gujarat. It also had 5,224 ATMs and Bulk Note Acceptors (BNAs) and 13,292 business correspondents (BCs).

Indian Bank closed in the green at ₹545.60, up 6.12% on the National Stock Exchange (NSE) on Wednesday.

The bank has a total market cap of ₹73,490.35 crore as of January 29, 2025, on the NSE.