- Indian Bank reported net income of 29.7 billion rupees in the first quarter, exceeding expectations with a 24% increase year-over-year.
- Operating profit was 47.7 billion rupees, showing a 6% increase from the previous year, though slightly below the market estimate of 49.71 billion rupees.
- The bank’s gross non-performing assets improved to 3.01% compared to 3.09% in the previous quarter.
- Provisions decreased by 13% quarter-over-quarter to 6.91 billion rupees.
- Interest income rose by 8.2% year-over-year to 162.8 billion rupees.
- Interest expenses increased by 12% year-over-year, reaching 99.2 billion rupees.
- Other income showed a significant surge of 28% year-over-year, amounting to 24.4 billion rupees.
- In market performance, the bank’s shares rose by 2.6%, closing at 640.85 rupees, with a trading volume of 1.56 million shares.
- Market reviews indicate 11 buy ratings, 1 hold, and 1 sell recommendation for Indian Bank‘s stock.
A look at Indian Bank Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 5 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Indian Bank, a full-service bank under the Government of India, has received strong Smart Scores across various factors. With top scores in both Value and Dividend, the bank showcases its stability and attractive returns for investors. Additionally, scoring high in Growth, Resilience, and Momentum, Indian Bank demonstrates promising long-term potential and resilience in navigating market fluctuations. These scores indicate a positive outlook for Indian Bank, suggesting a sound investment opportunity for those seeking steady performance and growth in the banking sector.
Indian Bank operates as a robust financial institution with a diverse range of services, including specialized units for foreign exchange transactions. With its notable Smart Karma Smart Scores, investors can find confidence in the bank’s value, dividend yield, growth prospects, resilience, and momentum. This comprehensive assessment paints a favorable picture of Indian Bank‘s future prospects, positioning it as a reliable choice for individuals looking for a strong and enduring investment in the Indian banking landscape.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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