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IndusInd Bank Q3 net up 34% at Rs 206 cr
Hinduja group company and private sector lender IndusInd Bank has reported a net profit of Rs 206 crore in the third quarter of FY12, a growth of 33.8% as compared to Rs 154 crore in a year ago period.
Private sector lender IndusInd Bank has reported a net profit of Rs 206 crore in the third quarter of FY12, a growth of 33.8% as compared to Rs 154 crore in the same period last year.
Net interest income increased 16% to Rs 421 crore from Rs 363 crore during the same period.
Gross non-performing assets (NPAs) declined at 1.02% in the quarter ended December 2011 as against 1.09% in previous quarter. Net NPAs during the same period too slipped at 0.29% versus 0.31%.
The management, addressing a press conference, said bank's new customer base has increased by 10% and savings deposits volumes shot up by 22% in the quarter in focus. The bank revised interest rate to 6% per annum on saving accounts after the Reserve Bank of India had deregulated saving rates last year.
Meanwhile, credit growth during the period stood at 30%.
Fee income was up by 46% to Rs 250 crore year-on-year and 18% on quarterly basis.
Shares of the Hinduja group company shot up 5% soon after the results were announced.
It was quoting at Rs 257.80 on the BSE at 14:43 hours IST. Volume too spiked up 1000% to 3.3 lakh shares, as compared to 5-day average of 33,000.
