IndusInd Bank Q1 net rises 26% to Rs 661 cr

By: | Updated: July 11, 2016 4:36 PM

The private sector lender had made a net profit (standalone) of Rs 525.04 crore in the corresponding April-June quarter of 2015-16 fiscal.

IndusInd BankTotal income of the company increased to Rs 4,264.66 crore in the quarter under review as against Rs 3,485.11 crore in the same quarter a year ago, it said in a regulatory filing.

IndusInd Bank today reported 26 per cent rise in standalone net profit at Rs 661.38 crore for the first quarter ended June.

The private sector lender had made a net profit (standalone) of Rs 525.04 crore in the corresponding April-June quarter of 2015-16 fiscal.

Total income of the company increased to Rs 4,264.66 crore in the quarter under review as against Rs 3,485.11 crore in the same quarter a year ago, it said in a regulatory filing.

On asset quality, bank’s gross non-performing assets (NPAs) were 0.91 per cent of the gross advances as of June 2016, up from 0.79 per cent a year ago.

Net NPAs or bad loans were 0.38 per cent of net advances during the quarter, slightly up from 0.31 per cent in the same period last year.
Bank’s provisions from bad loans and contingencies were raised to Rs 230.47 crore in the reported quarter compared with Rs 123.33 crore a year earlier.

IndusInd Bank shares were trading 0.55 per cent down at Rs 1,120.50 on BSE during the pre-close session.

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