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IndusInd Bank Q3 profit rises 25%, NII misses estimates 11/01/2018 17:58

Private sector lender IndusInd Bank today posted a 24.72 per cent increase in net profit to Rs.936.25 crore for the quarter ended on December 31, 2017.

The bank had recorded a net profit of Rs. 750.64 crore in the October-December quarter of last fiscal.

Total income of the lender also increased to Rs. 5,473.54 crore during the quarter under review, up 16.05 per cent as against Rs. 4,716.13 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a BSE filing.

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. Net NPAs of the bank rose to 0.46 per cent in the quarter from 0.39 per cent of the total assets.

Commenting on the performance, IndusInd Bank MD & CEO Romesh Sobti said: "The bank has continued to show a steadfast performance again in this quarter. All vectors for both topline and bottom line have progressed as per plan. We have maintained a stable quality loan book".

Its net interest margin (NIM) stood at 3.99 per cent for the current quarter as against 4 per cent in the corresponding quarter of the previous year.

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