Indian Bank Q4 results, net profit up by 6 percent on Quarter basis
In terms of quarter result, Net Profit up by 6% QoQ to Rs 2247 Cr in Mar'24from Rs 2119 Cr in Dec'23. Operating Profit improved by 5% YoY Rs 4305 Cr in Mar'24 from Rs 4097 Cr in Dec'23.
New Delhi: On 12 monthly basis, Net Profit up by 55% YoY at Rs 2247 Cr in Mar'24 from Rs 1447 Cr in Mar'23. The Board of Directors recommended a dividend of 120% amounting Rs 12 per equity share for FY24 subject to requisite approvals.
In terms of quarter results, Net Profit up by 6% QoQ to Rs 2247 Cr in Mar'24 from Rs 2119 Cr in Dec'23. Operating Profit improved by 5% YoY Rs 4305 Cr in Mar'24 from Rs 4097 Cr in Dec'23.
Read Also : ONGC releases statement on incident happened at Uran plant in MaharashtraSome financial highlights for the overall year:
Operating Profit improved by 7% YoY to Rs 4305 Cr in Mar' 24 from Rs 4016 Cr in Mar'23. Net Interest Income increased by 9% YoY to Rs 6015 Cr in Mar'24 from Rs 5508 Cr in Mar'23. Gross Advances increased by 13% YoY to Rs 533773 Cr in Mar'24 from Rs 473586 Cr in Mar'23. Return on Assets (RoA) increased by 30 bps to 1.07% in FY24 from 0.77% in FY23.
Business through Digital Channels has reached to Rs 81,250 Cr. A total of 78 Digital Journeys, Utilities and Processes have been launched so far. While the Cost to Income Ratio is 45.92%for FY24. Both UPI users and Net Banking Users have seen a 37% YoY increase, reaching 1.75 Crores and 1.06 Crores respectively.
Read Also : NHPC CMD inaugurated NHPC pavilion at RE Invest 2024News Must Read
- Indian Bank raises Rs. 5,000 Crores through issuance of Bonds
- NLCIL plans three fold increase in its total power generation capacity by 2030
- DVC enters into financial collaboration with State Bank of India
- IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal
- IREDA Signs MoU with SJVN and GMR fo Hydro Project in Nepal
- SJVN CMD visited 1320 MW Buxar Thermal Power Project
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD