Friday, Mar 29 2024 | Time 13:10 Hrs(IST)
image
Business Economy


Indian Bank Q2 Net falls by 66.75 per cent to Rs 150.14 crore

Indian Bank Q2 Net falls by 66.75 per cent to Rs 150.14 crore

Mumbai, Nov 9 (UNI) Public sector lender Indian Bank reported a drop of 66.75 per cent in it's net profit for the quarter ended Sep 30, 2018 at Rs 150.14 crore as against Rs.451.54 crores for the period ended Sep 30, 2017.

However, Total income for the quarer ended Sep rose by 5.23 percent to Rs 5,129.16 crores as compared to Rs 4,874.16 crores during the period ended Sep30, 2017, Bank said in filing with BSE.

Net NPAs, too increased to 4.23 per cent of net advances at the end of second quarter of this fiscal from 3.41 per cent in the year-ago period. Provisioning for bad loans and contingencies was raised to Rs 1,004.3 crore for the Jul-Sep quarter from Rs 744.55 crore in the same period a year earlier.

Provisioning for bad loans alone stood at Rs 752.47 crore against Rs 633.36 crore for the quarter ended Sep 30, 2017. Provision coverage ratio stood at 60.82 per cent as on Sep 30, 2018.

UNI JS 1516

More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image