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Informist, Saturday, May 3, 2025

 

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--Indian Bank Jan-Mar net profit INR 29.56 bln vs INR 22.47 bln year ago 
--Indian Bank Jan-Mar total income INR 185.99 bln vs INR 168.87 bln year ago 
--Indian Bank Jan-Mar provisions INR 7.95 bln vs INR 12.48 bln year ago 
--Indian Bank FY25 net profit INR 109.18 bln vs INR 80.63 bln year ago 
--Indian Bank FY25 total income INR 712.26 bln vs INR 634.82 bln year ago 
--Indian Bank FY25 provisions INR 42.11 bln vs INR 58.88 bln year ago 
--Indian Bank gross NPA ratio 3.09% Mar 31 vs 3.26% qtr ago, 3.95% year ago
--Indian Bk net NPA ratio 0.19% as on Mar 31 vs 0.21% qtr ago, 0.43% yr ago 
--Indian Bank Basel III capital adequacy ratio 17.94% as on Mar 31 
--Indian Bank to pay INR 16.25 per share dividend 
--Indian Bank to raise up to INR 50 bln via equity 
--Indian Bank to raise up to INR 20 bln via bonds 
--Indian Bank Jan-Mar net interest income INR 63.89 bln, up 6% YoY
--Indian Bank gross advances INR 5.88 tln as on Mar 31, up 10% YoY 
--Indian Bank total deposits INR 7.37 tln as on Mar 31, up 7% YoY 
--Indian Bank domestic CASA ratio at 40.17% as on Mar 31 
--Indian Bank provision coverage ratio 98.10% as on Mar 31 
--Indian Bank Jan-Mar fresh slippages INR 13.93 bln vs INR 12.38 bln year ago 
--Indian Bk Jan-Mar recovery, upgrades INR 6.41 bln vs INR 8.98 bln year ago 
--Indian Bk Jan-Mar technical write-offs INR 5.54 bln vs INR 17.81 bln year ago 
--Indian Bank Jan-Mar cost of deposits 5.10% vs 5.18% in Oct-Dec 
--Indian Bank Jan-Mar NIM 3.37% vs 3.45% in Oct-Dec 
 

 

By Vaishali Tyagi

 

MUMBAI – Indian Bank's net profit for the March quarter rose as provisions fell and total income increased. The bank's bottom line for the quarter jumped 31.6% on year to INR 29.56 billion, slightly higher than analysts' expectations of INR 28.01 billion. Sequentially, the net profit was up 3.6%. Provisions during Jan-Mar were down 36.3% at INR 7.95 billion, from INR 12.48 billion a year ago. Sequentially, provisioning by the bank fell almost 25%.

 

Shares of Indian Bank, which will pay a final dividend of INR 16.25 per share, had closed 1.4% lower Friday at INR 558.10 on the National Stock Exchange. The bank announced its earnings Saturday.

 

A rise in total income also supported the bank's profit. In Jan-Mar, the Chennai-headquartered bank's total income rose over 10% on year to INR 185.99 billion. Quarter on quarter, the total income rose just 3.8%. Interest income was the biggest contributor to the bank's total income. The interest income for the reporting quarter rose 8.4% on year to INR 158.59 billion. On quarter, however, there was no significant rise in interest income.

 

The bank's income from investments rose around 10% on year to INR 39.04 billion, which also contributed to the rise in total income and net profit.

 

However, a rise in total expenditure weighed on the bank's net profit for the quarter. The expenditure rose almost 8% on year to INR 135.80 billion. Of the bank's total expenses, operating expenditure rose by just 3.6% on year to INR 41.14 billion.

 

The bank's net interest margin for the March quarter was 3.37%, down 8 basis points from a quarter ago. Its net interest income for the period stood at INR 63.89 billion, up 6.0% on year. Sequentially, its net interest income fell 0.4%.

 

The state-owned lender's net non-performing asset ratio improved slightly to 0.19%, from 0.21% a quarter ago. The gross non-performing asset ratio fell to 3.09% from 3.26% a quarter ago. The gross non-performing asset ratio was down 86 bps from a year ago. The bank's provision coverage ratio, including technical writeoff, improved to 98.10% as of Mar. 31, from 96.34% a year ago. The annualised credit cost of the bank rose to 0.81% in Jan-Mar from 0.47% a quarter ago. 

 

The bank's total deposits grew 7% on year to INR 7.37 trillion as of Mar. 31. The bank's cost of deposits for Jan-Mar stood at 5.10%, down from 5.18% a quarter ago, according to a presentation for the bank's investors. The advances stood at INR 5.88 trillion as of Mar. 31, up 10% on year.

 

The lender's current account savings account deposits grew 5.1% on quarter to INR 2.83 trillion in the March quarter, with the domestic current account savings account ratio at 40.17%. 

 

Indian Bank's Basel-III capital adequacy ratio was 17.94% as of Mar. 31. Fresh slippages during the quarter were up 12.5% on year to INR 13.93 billion, while upgradations and recoveries went down 28.6% to INR 6.41 billion. The bank's Jan-Mar technical write-offs were INR 5.54 billion, against INR 17.81 billion a year ago.

 

The Chennai-headquartered lender's total income for FY25 stood at INR 712.26 billion, up 12.2%. Its net profit for the year stood at INR 109.18 billion, up from INR 80.63 billion it reported in FY24. The lender's provisions for FY25 stood at INR 42.11 billion, down from INR 58.88 billion for the previous year. The board of directors of the bank approved raising up to INR 50 billion through equity and INR 20 billion through debentures.  End

 

Edited by Rajeev Pai

 

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