Indian Bank net rises 46.37% in Sep `07 qtr
Chennai-based, Indian Bank disclosed a phenomenal jump in net profits, for the quarter ended September 2007. During the quarter, the company experienced a 46.37% rise in profits to Rs 2,476 million, from Rs 1,691.90 million.
Total income rose 26.93% to Rs 14,931.40 million, for the quarter ended September 2007, from Rs 11,763.10 million for the same period last year.
On Quarter on Quarter basis, the bank reported a growth of 16.77% in its net profit. Its net profit for the reporting quarter stood at Rs 2,476 million, as compared to Rs 2,120.30 million in the previous quarter, ended June 2007.
Interest Earned for the quarter rose 4.07% to Rs 12,519 million, compared with Rs 12,028.70 million, in the quarter ended June 2007.
Total income rose 8.45% to Rs 14,931.40 million, for the quarter ended September 2007, from Rs 13,767.40 million for the previous quarter of the same year.
The EPS increased 17.37% to Rs 5.54 for the quarter, ended September 2007 from Rs 4.72 for the quarter ended June 2007.
Indian Bank (INDIANB), is a leading public sector banking institution with one of the largest network of branches in the state of Tamil Nadu. The bank has 1,476 branches in India, a branch in Singapore, and a branch and foreign currency banking unit in Colombo, Sri Lanka. It has 229 overseas correspondent banks in 69 countries.
