New Delhi: State-owned Indian Bank on Wednesday reported a 5 per cent rise in net profit to Rs 3,103 crore for the March quarter of FY26, supported by improved asset quality and lower bad loan provisions.
The lender had posted a net profit of Rs 2,956 crore in the year-ago period.
Total income for the quarter increased to Rs 19,980 crore from Rs 18,599 crore, while interest income grew to Rs 17,480 crore from Rs 15,856 crore. Net Interest Income (NII) rose to Rs 7,109 crore, up from Rs 6,389 crore a year earlier.
Asset quality strengthened, with gross NPAs declining to 1.98 per cent from 3.09 per cent a year ago, and net NPAs easing to 0.15 per cent from 0.19 per cent.
Provisions for bad loans fell sharply to Rs 748 crore from Rs 1,100 crore. However, quarterly recoveries dipped to Rs 1,499 crore from Rs 1,782 crore.
For FY27, the bank has board approval to raise up to Rs 5,000 crore through various routes, including QIP, if required.
It has also proposed a dividend of Rs 18.25 per share for FY26.
For the full FY26, net profit rose 11 per cent to Rs 12,156 crore, while total income increased to Rs 77,441 crore. Net Interest Income stood at Rs 26,915 crore, with net interest margin at 3.23 per cent.