Indian Bank, on Monday, announced in Chennai that it has posted a net profit of Rs 247.60 crore for the quarter ended September 30, 2007 which is 46 per cent higher compared to Rs 169.19 crore earned during the same quarter previous year. Total income has increased to Rs 1493.14 crore from Rs 1176.31 crore, a rise of 27 per cent.

For the half-year ended September 2007, Indian Bank’s profit increased by 37.61 per cent to Rs 459.62 crore from Rs 334 crore for the corresponding period last year.

Also the operating profit grew by Rs 146.37 crore to Rs 673.17 crore from Rs 526.80 crore and net interest income to Rs 956.18 crore from Rs 863.09 crore.

Indian Bank Chairman and Managing Director, M S Sundara Rajan said total business during the first half grew by Rs 15,638 crore to Rs 85,954 crore from Rs 70,416 crore during the corresponding period last year.