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13 November, 2018 10:22 IST
IndusInd Bank Q1 profit grows 24% to Rs 10.35 bn
Source: IRIS | 10 Jul, 2018, 02.18PM
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IndusInd Bank, the private sector lender, today reported a 23.80% growth in net profit at Rs 10.35 billion for the fourth quarter ended June 30, 2018 from Rs 8.36 billion in the same period last year.

Total income of the bank increased 20.12% to Rs 63.69 billion during the quarter from Rs 53.02 billion in the corresponding period last year.

Net Interest Income (NII) for the quarter is Rs 21.22 billion as against Rs 17.74 billion in the corresponding quarter of the previous year, registering a robust growth of 20%.

Operating Profit for the quarter is Rs 19.11 billion as against Rs 15.88 billion in the corresponding quarter of the previous year, showing a growth of 20%.

CASA (Current Accounts- Savings Accounts) Ratio improved to 43.42% against 37.78% in June 30, 2017.

Total Advances as on June 30, 2018 is at Rs 1506.75 billion as compared to Rs 1,164.07 billion on June 30, 2017, recording a growth of 29%.

Total Deposits as on June 30, 2018 is at Rs 1,588.62 billion as compared to Rs 1,336.73 billion on June 30,2017, up by 19%. Total Business at Rs 3,095.37 billion. Savings accounts as on June 30, 2018 at Rs 477.11 billion rose 51% from Rs 315.56 billion as on June 30, 2017.

Net NPA as on June 30, 2018 is at 0.51% as against 0.44% on June 30, 2017.

Romesh Sobti, MD & CEO, IndusInd Bank said, ''In the first quarter of the new financial year, the Bank continued its momentum and showed a consistent performance in all important vectors. The Bank continues to stride ahead and has charted growth plans to propel into another year of sustained and balanced banking operations. Digitisation and Customer convenience remains the cornerstone of bank's strategy which will continue to create value for the customers through its services.

The bank posted Net Profit up by 24% and Return on Assets for the current quarter improved to 1.91% as against 1.86% in the corresponding quarter of the previous year.''

Shares of the bank declined Rs 15.9, or 0.81%, to trade at Rs 1,938.70. The total volume of shares traded was 63,483 at the BSE (1.53 p.m., Tuesday).

Indusind Bank Limited   (Q,N,C,F)*

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