Indian Bank reported a steady financial performance in its Q3 results, reflecting consistent growth in profitability and continued improvement in asset quality during the quarter.
The public sector lender posted a net profit of ₹3,061 crore for the quarter, registering a 7.3% year-on-year rise compared with ₹2,852 crore reported in the corresponding period last year. The improvement in profitability was supported by stable core income growth and better control over asset quality pressures.
Net Interest Income (NII) for the quarter increased by 7.5% year-on-year to ₹6,895 crore, up from ₹6,414 crore in Q3 of the previous financial year. The growth in NII highlights improved lending activity and better yield management amid a stable interest rate environment.
On the asset quality front, Indian Bank reported sequential improvement. Gross Non-Performing Assets (Gross NPA) declined to 2.23% compared with 2.60% in the previous quarter, indicating effective recovery efforts and prudent credit monitoring. In absolute terms, Gross NPA reduced to ₹14,268 crore from ₹16,134 crore on a quarter-on-quarter basis.
Net NPA also showed marginal improvement, easing to 0.15% from 0.16% in the preceding quarter. The absolute Net NPA amount stood at ₹967 crore, lower than ₹983 crore reported in the previous quarter, reflecting strengthened provisioning and improved asset resolution.
