Indian Bank net lower at Rs 1,258 cr, dividend proposed Rs 6 per share

Chennai May 10 (IANS) Public sector Indian Bank on Thursday said it closed last fiscal with a lower net profit of Rs 1 258.99 crore down from Rs 1 405.67 crore logged for the year ended March 31 2017.

In a regulatory filing in BSE it said it had a total income of Rs 19 519.48 crore as against Rs 18 251.11 crore earned during 2016-17.

The total provisions including for non-performing assets (NPA) but excluding taxes for the last year stood at Rs 3 924.56 crore up from Rs 2 242.47 crore provided during 2016-17.

Indian Bank s gross NPA as on March 31 2018 stands at Rs 11 990.14 crore as against Rs 9 865.13 crore as on March 31 2017.

The net NPA as on March 31 2018 stands at Rs 5 959.57 crore as against Rs 5 606.56 crore as on March 31 2017.

The bank Board of Directors have recommended a dividend of Rs 6 per share (Face Value Rs 10 per share) for the year ended March 31 2018.

--IANS
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