IndusInd Bank Q3 net profit rises 25% to Rs936.25 crore

IndusInd Bank's Q3 net profit up almost 25

IndusInd Bank's Q3 net profit up almost 25

The bank registered a net profit of ₹87.38 crore in the third quarter of 2017-18 as against a profit of ₹68.52 crore in the corresponding period of 2016-17, recording a growth of 27.52 per cent.

NII, which is the difference between interest earned and interest expended, rose 20 per cent on a year-on-year (y-o-y) basis to Rs 1,894.81 crore.

The bank posted net profit of Rs 936.25 crore, higher by 24.72% from Rs 750.64 crore in the corresponding period of previous year. Karnataka Bank shares were trading higher by 2.52 per cent at Rs 166.80 on the BSE.

The gross non-performing assets (NPAs) of IndusInd Bank increased to 1.16 per cent of the total advances during the third quarter of the current fiscal, against 0.94 per cent at the end of third quarter of 2016-17.

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IndusInd Bank fell 1.37% to Rs 1,711.05 at 14:21 IST on BSE after the bank reported its Q3 December 2017 result during market hours today, 11 January 2018. Other income was at Rs1,186.76 crore, up 16.72% from Rs1,016.80 crore a year ago. "In spite of the growth of the balance sheet, we have seen an increase in the return on assets (RoA) and the return on equity (RoE) as well", he said.

He said vehicle finance, which is now entering into a boom phase, showed robust growth. "If you look at only commercial vehicle, disbursements grew by 39%", Mr. Sobti said. "The growth is pretty secular - two-wheelers, three-wheelers and tractor segments are also witnessing growth", he said.

Provisions and contingencies rose 8.9% to Rs236.16 crore in the quarter from Rs216.85 crore a year ago.

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