Indian Bank Limited Q1 results show a revenue rise from 14415.98 to 14921.43 crores, a 3.51% increase in growth. EPS also rise from Rs.12.20 to Rs.14.85, up by 21.72%.
First, Let’s Begin with Quarter-on-Quarter Basis:
Indian Bank shared its Q1 results on Thursday. They earned 14921.43 crores in revenue this quarter, but that’s more than the 14415.98 crores they made last quarter. The bank’s growth increased by 3.51 percent when comparing the two quarters.
In terms of profits, Indian Bank’s PAT (Profit After Tax) for this quarter was 1849.68 crores, up from 1519.68 crores in the previous quarter. Their quarter-to-quarter growth inclined by 21.72 percent.
The Bank’s EPS (Earnings Per Share) this quarter is Rs.14.85, which is an increase of 21.72% from the Rs.12.20 EPS in the previous quarter.
In addition, Bank’s net NPA (Non-Performing Assets) decreased to 0.70% this quarter from 0.90% in the previous quarter.
Now, Let’s Analyze the Results on a Year-over-Year Basis:
The bank made a total revenue of 14921.43 crores this year (2023), which is 25.42 percent higher than last year’s total revenue of 11897.53 crores.
This Year’s PAT (Profit After Tax) is 1849.68 crores, which is also 41.08% higher than last year’s PAT of 1311.08 crores.
The EPS (Earnings Per Share) for this year is 14.85 crores, which is 41.03% more than the EPS of 10.53 crores earned last year.
Bank’s gross NPA (Non-Performing Assets) dropped to 5.47% this year from 8.13% in the previous year, resulting in a decrease of 266 basis points in the bank’s gross NPA.
In addition, the bank’s net NPA (Non-Performing Assets) decreased to 0.90% this year from 2.12% in the previous year, resulting in a 22 basis point decrease in the bank’s net NPA.
The CAR (capital adequacy ratio) of the bank increased to 16.10 percent this year from 16.80 percent in the previous year.
The ROA (return on assets) of the bank increased to 1.04 percent in this quarter from 0.78 percent in the previous year.
Also Read: Coromandel International Q1FY24 Results: Consolidated PAT of Rs. 494.03 Cr
Indian Bank Share Dividend Announcement / Record Date:
The record date for the dividend has not arrived yet.
About Indian Bank:
Indian Bank, a public sector bank in India, was founded in the year 1907 and has its headquarters situated in Chennai. With a workforce of 41,645 employees, it caters to more than 100 million customers through 5,814 branches and 4,929 ATMs and Cash deposit machines. As of 31st March 2023, the bank’s total business has reached ₹1,094,752 crore.
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