Private sector lender IndusInd Bank has reported an increase of 26.5 per cent in net profit at Rs 836.55 crore in the first quarter of the current fiscal.
Private sector lender IndusInd Bank has reported an increase of 26.5 per cent in net profit at Rs 836.55 crore in the first quarter of the current fiscal. The bank’s net profit in the corresponding April-June quarter of 2016-17 stood at Rs 661.38 crore. Total income of the lender rose by 21.5 per cent to Rs 5,302.77 crore as against Rs 4,363.57 crore in the year-ago period, the bank said in a regulatory filing. On asset front, there was an uptick in the bank’s gross non-performing assets (NPAs) at 1.09 per cent of the gross advances as on June 2017 compared to 0.91 per cent in the same period a year ago. Net NPAs or bad loans, as a percentage of net advances, were 0.44 per cent as against 0.38 per cent, a year ago. The private sector lender put aside Rs 309.97 crore to cover bad loans and contingencies for April-June quarter of 2017-18, higher from Rs 230.47 crore parked for the similar quarter of 2016-17. Stock of the bank was trading 0.30 per cent higher at Rs 1,564.45 apiece on BSE.