Published: Sat, January 13, 2018
Business | By Max Garcia

IndusInd Bank's Q3 net profit up nearly 25%

IndusInd Bank's Q3 net profit up nearly 25%

Total income increased to Rs 1,526.86 crore for the quarter from Rs 1,457.52 crore in the same period a year ago, the bank said in a regulatory filing.

IndusInd Bank managing director and CEO Romesh Sobti pointed out that the balance sheet size of the bank has crossed Rs 2 lakh crore for the first time.

The provisions for the quarter was at INR 236 crore for the third quarter. Total GNPA's for the quarter rose by 54 per cent yoy to Rs. 1,498 crore.

In it's financial audit, IndusInd stated that they have transferred an amount of Rs 70 crore towards floating provisions for advances during the quarter ended June 30, 2017.

The large-cap bank has equity capital of Rs 599.75 crore.

Sobti added, "We have maintained a stable quality loan book. 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". The operating profit of the bank rose 22.1 per cent to Rs 1,664.69 crore.

Return on Assets (ROA) at 1.96 %.

However, the company's bad loans portfolio increased with the net NPA (non-performing assets) level at 0.46 per cent, up from 0.39 per cent reported during the corresponding period of 2016-17 and 0.44 in the second quarter of 2017-18. IndusInd bank's provisions and contingencies rose to Rs 236.16 crore in the third quarter compared with Rs 216.85 crore in the same period past year.

At 3.03pm, Indusind Bank shares were trading at Rs1702.75 on BSE, down 1.84% from its previous close while India's benchmark Sensex Index gained 0.13% to 34,477.79 points.

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