Indian Bank on Wednesday reported a 52% jump in its net profit to Rs 2,119 crore for the third quarter of FY24 as compared to Rs 1,396 crore in the corresponding quarter of last fiscal owing to higher income growth and reduced bad assets. Total income of the bank stood at Rs 16, 100 crore as compared to Rs 13,550 crore, registering a growth of 19%.
Net interest income (NII) of the bank increased by 6% to Rs 5,815 crore from Rs 5,499 crore while fee based income grew by 21% to Rs 852 crore. Return on assets (RoA) was up by 31 bps to 1.11% from 0.80% and return on equity (RoE) increased by 471 bps to 19.92% from 15.21%. Yield on advances…