Indian Bank has reported a fall of 24 per cent in its net profit at Rs 206.16 crore for the quarter ended March 31 as it reserved a sum for wage revision.
Earlier in the previous fiscal, the bank had earned a profit of Rs 271.29 crore.
“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.
It also added that the Provision of Rs 30 crore has been made during the quarter toward arrears for wage revision, which will be effective from November 1, 2012.
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