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IndusInd Bank Q2 net profit up 25.75% to Rs 704 crore

The total income of the lender also increased to Rs 4,439.72 crore during the quarter under review

Press Trust of India  |  New Delhi 

Image via Shutterstock
Image via Shutterstock

Private sector lender on Wednesday posted 25.75 per cent increase in net to Rs 704 crore for the second quarter ended September 30, 2016. The bank had recorded a net of Rs 560 crore in the July-of last financial year, said in a BSE filing. The total income of the lender also increased to Rs 4,439.72 crore during the quarter under review, as against Rs 3,581.31 crore over the corresponding period of 2015-16. The gross non-performing assets (NPAs) of the bank increased to 0.90 per cent of the total advances, from 0.77 per cent at the end of second quarter of 2015-16. Similarly, net rose to 0.37 per cent from 0.31 per cent of the total assets. The bank set aside Rs 214 crore as provisions, against Rs 158 crore in the year-ago quarter. The (NIM), the difference between the interest charged on loans and the interest paid on deposits, was 0.37 per cent in the second quarter of the current financial year against 3.97 per cent in the year-ago quarter. The net in the first half of the current financial years rose 25.85 per cent to Rs 1,365.64 crore against Rs 1,085.05 crore in the year-ago period.

First Published: Wed, October 12 2016. 15:22 IST
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