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Indian Bank climbs on reporting 74% rise in Q1 consolidated net profit

Indian Bank is currently trading at Rs. 199.95, up by 10.05 points or 5.29% from its previous closing of Rs. 189.90 on the BSE.

The scrip opened at Rs. 191.00 and has touched a high and low of Rs. 202.70 and Rs. 190.75 respectively. So far 156480 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 380.00 on 07-Aug-2018 and a 52 week low of Rs. 160.20 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 202.70 and Rs. 160.20 respectively. The current market cap of the company is Rs. 9852.81 crore.

The promoters holding in the company stood at 79.62%, while Institutions and Non-Institutions held 15.11% and 5.27% respectively.

Indian Bank has reported a rise of 74.56% in its net profit at Rs 365.37 crore for the quarter ended June 30, 2019 as compared to Rs 209.31 crore for the same quarter in the previous year. Total income of the Bank increased by 13.64% at Rs 5,832.12 crore for Q1FY20 as compared Rs 5,131.97 crore for the corresponding quarter previous year.

On the consolidated basis, the Bank has reported a rise of 74.42% in its net profit at Rs 366.24 crore for the quarter under review as compared to Rs 209.98 crore for the same quarter in the previous year. Total income of the Bank increased by 13.64% at Rs 5,834.84 crore for Q1FY20 as compared Rs 5,134.53 crore for the corresponding quarter previous year.

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