Monday, 11 July 2016

IndusInd Bank Q1 net rises 26% to Rs 661 crore : 11 July 2016



IndusInd Bank on Monday reported 26% 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% of the gross advances as of June 2016, up from 0.79% a year ago. Net NPAs or bad loans were 0.38% of net advances during the quarter, slightly up from 0.31% 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% down at Rs 1,120.50 on BSE during the pre-close session.

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