Indian Bank Q1 net profit rises to Rs.212.03 Crores

Indian Bank has announced the unaudited financial results for the quarter ended June 30, 2007.

The Bank has posted a net profit of Rs 2120.30 million for the quarter ended June 30, 2007 as compared to Rs 1648.10 million for the quarter ended June 30, 2006. Total Income has increased from Rs 10484.20 million for the quarter ended June 30, 2006 to Rs 13767.40 million for the quarter ended June 30, 2007.

The company has reported an Earnings Per Share (EPS) of Rs.4.72 for quarter ended June 30, 2007.

The working results for the quarter ended June 30, 2007 have been arrived at after considering provision for NPAs, Non Performing Investments, Depreciation on Investments and Standard Assets as per Reserve Bank of India guidelines in respect of Income Tax, FBT, Depreciation on Fixed Assets, other usual and necessary provisions have been made on an estimated and proportionate basis and is subject to adjustment at the year end.

The stock closed on Friday at Rs.156.50, down by Rs.5.55 or 3.42%. The total traded quantity was 104837 compared to 2 week average of 414880. The stock hit an intraday high of Rs.163.90 and low of Rs.155.05.

Source : Equity Bulls

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