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24 January, 2018 07:22 IST
IndusInd Bank Q3 net up 25%; Provisions grow 9%
Source: IRIS | 11 Jan, 2018, 04.08PM
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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)*

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