Indian Bank Q4 net down 24% at Rs 206 crore

Indian Bank has registered a fall of 24 per cent in its net profit at Rs206.16 crore in the quarter ended March 31 as it reserved a sum for wagerevision.

The state-owned lender had earned a profit of Rs 271.29 crore in thecorresponding quarter of previous fiscal.

"Total income has increased from Rs 4,234.84 crore for the quarterended March 31, 2014 to Rs 4,410.49 crore for the quarter ended March 31,2015," it said in a filing to BSE.

Provision of Rs 30 crore has been made during the quarter toward arrearfor wage revision, which will be effective from November 1, 2012, it added.

The aggregate provision as on March 31 is Rs 290 crore, the bank said.

During the March quarter, bank's net non-performing assets (NPAs) or badloans slightly rose to 2.5 per cent of the net advances as against 2.26 per centin the year ago period.

Gross NPAs, too grew to 4.4 per cent of the gross loans, up from 3.67per cent in the same period of previous fiscal.

However, bank's provisioning toward bad loans were cut to Rs 562.57crore in the fourth quarter of FY15 as against a provision of Rs 593.92 crorein the corresponding quarter of FY14.

For the full year, bank's net profit stood Rs 1,005.17 crore comparedwith Rs 1,158.95 crore for the year ended March 31, 2014.

Total income has increased from Rs 16,620.89 crore for the year endedMarch 31, 2014 to Rs 17,216.30 crore for the year ended March 31, 2015, itsaid.

The bank has recommended a final dividend of Rs 4.2 per equity share offace value of Rs 10 each for the year 2014-15.

Indian Bank shares traded 4 per cent higher at Rs 161.10 on BSE in noontrades.