Total income increased by 26% year-over-year to Rs 15,736.23 crore in the second quarter.

Net Interest Income jumped by 23% to Rs 5,740.19 crore in Q2 FY24 as compared with the same period last year.

Operating profit of the bank was Rs 4,302.73 crore in Q2 FY24, up by 19% from Rs 3,629.25 crore in Q2 FY23.

Provisions (other than tax) and Contingencies aggregated to Rs 1,550.65 crore (down 25% YoY) during the period under review. Of this, provisions for non-performing assets added up to Rs 917.70 crore (down 54% YoY).

Profit before tax in Q2 FY24 stood at Rs 2,752.08 crore, up by 75% from Rs 1,570.70 crore in Q2 FY23.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 24,487.53 crore as on 30 September 2023 as against Rs 31,958.83 crore as on 30 September 2022.

The ratio of gross NPAs to gross advances was at 4.97% as on 30 September 2023 as compared to 7.30% as on 30 September 2022.

The ratio of net NPA to net advances stood at 0.60% as on 30 September 2022 as against 1.50% as on 30 September 2022.

As on 30 September 2023, total deposits stood at Rs 6,40,802.66 crore (up 9% YoY) and total advances aggregated to Rs 72,587.60 crore (up 14% YoY).

Capital Adequacy Ratio (CAR) was at 15.53% as on 30 September 2023 as against 16.15% as on 30 September 2022. The bank's return on assets (ROA) for Q2 FY24 stood at 1.06% as against 0.71% in Q2 FY23.

Indian Bank is a public sector bank. The Government of India held 79.86% stake in the bank as on 30 September 2023.

The scrip fell 2.07% to currently trade at Rs 400.45 on the BSE.