Indian Bank Q3 net declines 19.9 per cent

State-run lender Indian Bank today reported a 19.9 per cent decline in net profit

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for the third quarter ending December last year at Rs 264.50 crore.

The Chennai-headquartered bank had registered net profit at Rs 330.58 crore during the same period of previous fiscal.

For the nine month period ending December, the net profit of the bank dipped to Rs 887.65 crore from Rs 1,289.00 crore registered during the corresponding period of previous fiscal.

The total income of the bank grew to Rs 4,112.33 crore from Rs 3,786.68 crore in the corresponding period of previous fiscal.

For the nine month period, the total income of the bank rose to Rs 12,386.05 crore from Rs 11,156.94 crore earlier.

Briefing reporters, Indian Bank Chairman and Managing Director T M Bhasin said the global business of the bank during the quarter under review rose to Rs 2.70 lakh crore from Rs 2.35 lakh crore earlier.

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