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Indian Bank net lower at Rs 1,258 crore

Chennai, May 10: Public sector Indian Bank on Thursday said it closed last fiscal with a lower net profit of Rs 1,258.99 crore, down from Rs 1,405.67 crore logged for the year ended March 31, 2017.
In a regulatory filing in BSE, it said it had a total income of Rs 19,519.48 crore as against Rs 18,251.11 crore earned during 2016-17.
The total provisions including for non-performing assets (NPA) but excluding taxes for the last year stood at Rs 3,924.56 crore up from Rs 2,242.47 crore provided during 2016-17.
Indian Bank’s gross NPA as on March 31, 2018 stands at Rs 11,990.14 crore as against Rs 9,865.13 crore as on March 31, 2017.
The net NPA as on March 31, 2018 stands at Rs 5,959.57 crore as against Rs 5,606.56 crore as on March 31, 2017.
The banks Board of Directors have recommended a dividend of Rs 6 per share (Face Value Rs 10 per share) for the year ended March 31, 2018. (IANS)

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Ankur Kalita