New Delhi: Indian Bank has registered a fall of 24 percent in its net profit at Rs 206.16 crore in the quarter ended March 31 as it reserved a sum for wage revision.
The state-owned lender had earned a profit of Rs 271.29 crore in the corresponding quarter of previous fiscal.
"Total income has increased from Rs 4,234.84 crore for the quarter ended 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 arrear for 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 bad loans slightly rose to 2.5 percent of the net advances as against 2.26 percent in the year ago period.
Gross NPAs, too grew to 4.4 percent of the gross loans, up from 3.67 percent in the same period of previous fiscal.
However, bank's provisioning toward bad loans were cut to Rs 562.57 crore in the fourth quarter of FY15 as against a provision of Rs 593.92 crore in the corresponding quarter of FY14.
For the full year, bank's net profit stood Rs 1,005.17 crore compared with 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 ended March 31, 2014 to Rs 17,216.30 crore for the year ended March 31, 2015, it said.
The bank has recommended a final dividend of Rs 4.2 per equity share of face value of Rs 10 each for the year 2014-15.
Indian Bank shares traded 4 percent higher at Rs 161.10 on BSE in noon trades.
