Private sector lender IndusInd Bank reported 25 percent year on year (YoY) increase in its September quarter net profit at Rs 880.1 crore against Rs 704.3 crore during the same quarter last year.
The net interest income, difference between interest earned and interest appended, came in at Rs 1,821 crore, a jump of 24.7 percent from Rs 1,460.3 crore year on year.
On the asset quality front, the net NPA came in at Rs 537 crore against Rs 508.3 crore in the previous quarter, while its gross NPAs have also posted some increase to Rs 1,345.3 crore against Rs 1,271.7 crore in the previous quarter.
The bank’s provisions have also risen to Rs 293.7 crore from Rs 213.9 crore year on year, while on a QoQ basis, it has fallen from Rs 310 crore.
At 14:14 hrs IndusInd Bank was quoting at Rs 1,734.75, up Rs 17.40, or 1.01 percent. It touched an intraday high of Rs 1,741.80 and an intraday low of Rs 1,700.00.Watch accompanying video of Lalitabh Shrivastawa, AVP-BFSI at Sharekhan and R Sreesankar, Head-Institutional Equities at Prabhudas Lilladher decode Indusind Bank's Q2 earnings.