Indian Bank falls 4% on disappointing Q3 numbers

State-owned lender Indian Bank went down nearly 4 percent on Monday as the company's third quarter net profit fell by 37 percent year-on-year to Rs 331 crore due to jump in non-performing assets.

Net interest income declined marginally to Rs 1,143.5 crore from Rs 1,170 crore during the same period.

Gross non-performing asset (NPA) went up by 112 basis points quarter-on-quarter to 3.18 percent and net NPA moved up 84 basis points QoQ to 2.17 percent in the October-December quarter.

At 12:44 hour IST, shares dropped 3.85 percent to Rs 195 amid large volumes on Bombay Stock Exchange.
 
Trading volumes increased quite significantly to 61,719 equity shares as against five day average of 9,521 shares.

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