Sunday , September 26 2021

Indian Bank surges on reporting around 3-fold jump in Q1 consolidated net profit

Indian Bank is currently trading at Rs. 142.25, up by 3.00 points or 2.15% from its previous closing of Rs. 139.25 on the BSE.

The scrip opened at Rs. 143.10 and has touched a high and low of Rs. 143.65 and Rs. 141.55 respectively. So far 136475 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 156.90 on 18-Feb-2021 and a 52 week low of Rs. 53.20 on 25-Sep-2020.

Last one week high and low of the scrip stood at Rs. 143.75 and Rs. 135.50 respectively. The current market cap of the company is Rs. 17741.31 crore.

The promoters holding in the company stood at 88.06%, while Institutions and Non-Institutions held 5.38% and 6.56% respectively.

Indian Bank has reported 3- fold jump in its net profit of Rs 1181.66 crore for first quarter ended June 30, 2021 as against net profit of Rs 369.26 crore for the same quarter in the previous year. Total income of the bank increased 0.47% at Rs 11500.21 crore for Q1FY22 as compared Rs 11446.71 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported around 3- fold jump in its net profit after minority interest of Rs 1259.82 crore for first quarter ended June 30, 2021 as against net profit of Rs 430.97 crore for the same quarter in the previous year. Total income of the bank increased by 0.43% at Rs 11608.53 crore for Q1FY22 as compared Rs 11556.09 crore for the corresponding quarter previous year.

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