Indian Bank declines on reporting 35% fall in Q1 net profit

Indian Bank declines on reporting 35% fall in Q1 net profit

Jul 25,2014   02:10 Hrs IST

Indian Bank is currently trading at Rs. 151.65, down by 9.20 points or 5.72% from its previous closing of Rs. 160.85 on the BSE. The scrip opened at Rs. 162.00 and has touched a high and low of Rs. 162.00 and Rs. 147.00 respectively. So far 139007 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.90 on 26-May-2014 and a 52 week low of Rs. 60.50 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 164.00 and Rs. 147.00 respectively. The current market cap of the company is Rs. 7044.78 crore. The promoters holding in the company stood at 81.51% while Institutions and Non-Institutions held 13.37% and 5.12% respectively. Indian Bank’s net profit for the quarter declined by 34.73% at Rs 207.16 crore as compared to Rs 317.39 crore for the quarter ended June 30, 2013. Its total income has decreased marginally by 1.23% to Rs 4144.01 crore for the quarter under review from Rs 4195.48 crore for the corresponding quarter of the previous year. The bank’s gross NPA for the April-June quarter of the current fiscal stood at 4.01%, as compared to 3.41% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 2.48% in Q1FY15.