Indian Bank, Chennai-based public sector lender, posted a net profit of Rs 514 crore in third quarter ended December 2020 (Q3FY21), backed by improvement in interest margins. It had posted loss of Rs 1,739 crore in quarter ended December 2019. On sequential basis, net profit rose by 25 per cent over the quarter ended September 2020. Its stock closed 1.56 per cent higher at Rs 90.90 per share on BSE. Allahabad Bank amalgamated with Indian Bank from April 01, 2020 and the combined financials for Q3Fy21 and March 2020 have been arrived at by aggregation of audited numbers of the two banks. The Net Interest Income (NII) rose by 31 per cent for Q3FY21 to Rs 4,313 crore from Rs 3,293 crore for Q3FY20. The Net Interest Margin (NIM) (Domestic) was up 42 basis points (bps) and is at 3.13 per cent for Q3FY21 as against 2.71 per cent for Q3FY20.