Indian Bank shares surge 10 pc after Q1 earnings; m-cap jumps Rs 10,506 cr

New Delhi, Jul 10 (PTI) Shares of state-owned Indian Bank on Friday jumped nearly 10 per cent after the lender posted a 10 per cent rise in net profit in the first quarter of the current financial year.

The stock surged 9.84 per cent to settle at Rs 870.95 on the BSE. During the day, it zoomed 10.34 per cent to Rs 874.95.

At the NSE, the stock closed 9.77 per cent higher at Rs 870.70.

Following the rally in the shares, the company’s market valuation surged Rs 10,506.33 crore to Rs 1,17,313.83 crore.

Indian Bank on Friday posted a 10 per cent rise in its net profit to Rs 3,273 crore in the June quarter of FY27.

The Chennai-based lender had earned a net profit of Rs 2,973 crore in the same quarter of the previous fiscal.

The lender’s total income increased

to Rs 20,724 crore during the June quarter of 2026-27 from Rs 18,721 crore in the same period of FY26, Indian Bank said in a regulatory filing.

Interest earned by the bank also improved to Rs 18,090 crore, compared to Rs 16,283 crore in the year-ago period.

Net Interest Income (NII) increased by 17 per cent to Rs 7,435 crore from Rs 6,359 crore in the June quarter of FY26, it said.

The bank’s asset quality showed improvement as gross non-performing assets (NPAs) declined to 1.86 per cent of gross advances at the end of the June quarter from 3.01 per cent a year ago.

Similarly, net NPAs, or bad loans, declined to 0.15 per cent, against 0.18 per cent in the year-ago period.

As a result, provisions for bad loans declined to Rs 376 crore during the first quarter from Rs 387 crore in Q1FY26. PTI SUM SHM