The Net Profit of IndusInd Bank Went Up by 27%
On Thursday, the private sector bank, IndusInd disclosed its quarterly earnings. Their quarter earnings matched the figures those were expected by the bank itself. However, the bank showed the marginal jump in terms of bad loans.
It is observed that the stock gave up its early gains. At around 2 pm, the stock traded 1.34 percent at Rs 1,819.85. On the other hand, the Sensex moved up 96 points, 0.28 percent at 34,421.
During the quarter, the net profit of IndusInd Bank that was informed by the bank itself was 26.81 percent rise in net profit at Rs 953.09 crore. Earlier, in the last year, the net profit of the IndusInd Bank was Rs 751.61 crore.
For the quarter to March, the lender reported net interest income of Rs 2,007.59 crore, up 20.39 percent from Rs 1,667.45 crore last year.
The lender reported a spurt in bad loans, with gross non-performing assets at 1.17 percent in Q4 FY18 over 1.16 percent in the preceding December quarter. The figure read 0.93 percent in Q4 FY17. Net NPA firmed up to 0.51 percent in the period under review, from 0.46 percent in Q3 FY18 and 0.39 percent in Q4 FY17.