Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 July, 2018 22:50 IST
IndusInd Bank Q3 net up 25%; Provisions grow 9%
Source: IRIS | 11 Jan, 2018, 04.08PM
Comments  |  Post Comment

IndusInd Bank, the private sector lender, today reported a 25% growth in net profit at Rs 9.36 billion for the second quarter ended December 31, 2017 from Rs 7.50 billion in the same period last year.

Total income of the bank increased 16.06% to Rs 54.73 billion during the quarter from Rs 47.16 billion in the corresponding period last year.

The bank has made provision of Rs 2.36 billion, which was higher by 9.26% from prior year period to Rs 2.16 billion.  

Net Interest Income (NII) was Rs 18.94 billion as against Rs 15.78 billion in the corresponding quarter of the previous year, registering a robust growth of 20%.

Non Interest income for the quarter was Rs 11.86 billion as against Rs 10.16 billion in the corresponding quarter of the previous year, a growth of 17%.

Core fee income for the quarter was Rs 10.76 billion as against Rs 8.84 billion in the corresponding quarter of the previous year, marking a growth of 22%

Operating Profit for the quarter was Rs 16.64 billion as against Rs 13.63 billion in the corresponding quarter of the previous year, showing a growth of 22%.

Net Interest Margin (NIM) was stable at 3.99% for the current quarter as against 4.00% in the corresponding quarter of the previous year.

Romesh Sobti, MD & CEO, IndusInd Bank said, ''The Bank has continued to show a steadfast performance again in this quarter. All vectors for both topline and bottom line have progressed as per plan. We have maintained a stable quality loan book. We believe in 'responsive innovation' as our central theme. Just like in the past, we will continue to launch a wide range of banking products and services which are not only unique but very germane to our consumers.''

Shares of the company declined Rs 36.15, or 2.06%, to settle at Rs 1,698.60. The total volume of shares traded was 154,481 at the BSE (Thursday).



Indusind Bank Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Sector
Wipro Q1 earnings rise 16.3% q-o-q to Rs 20.93 bn - 20-Jul-2018 16:53
PNC Infratech receives LOI for Purvanchal Expressway EPC Projects - 20-Jul-2018 15:52
Himachal Futuristic Communications receives orders worth Rs 20.04 bn - 20-Jul-2018 15:45
Zydus Cadila gets final nod for Spironolactone tablets - 20-Jul-2018 15:40
Bank of Baroda signs MoU with 10 companies - 20-Jul-2018 15:34
NCLT approves JK Paper's Rs 3.71 bn bid for Sirpur Paper Mills - 20-Jul-2018 13:40
Global oil brand ECSTAR now at Maruti Suzuki ARENA network - 20-Jul-2018 10:23
Gayatri Projects wins two road contracts worth Rs 27.59 bn - 20-Jul-2018 09:58
Jain Irrigation Systems bags project worth Rs 9.75 bn - 20-Jul-2018 09:53
Yes Bank partners with 10 smart cities to tackle development challenges - 19-Jul-2018 17:36
Govt to infuse capital worth Rs 17.9 bn in Allahabad Bank - 19-Jul-2018 16:17
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer