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IndusInd Bank Q3 net profit rises 25% to Rs 9.36 billion; stock falls 2%

The capital adequacy ratio for the quarter was 15.83%, an improvement as against 15.31% in the previous quarter

Nikhat Parvez Hetavkar  |  Mumbai 

IndusInd Bank Q3 results
IndusInd Bank

IndusInd Bank’s third-quarter net profit rose 25 per cent on the back of rise in interest and fee income.

The bank’s net profit rose to Rs 9.36 billion in the quarter ended December, compared with Rs 7.5 billion in the year-ago quarter. The bank's net interest income, or the interest earned minus interest expended, rose 20  per cent on a year-on-year basis.

The net interest margin, the difference between the yield on advances and cost of fund, was flat at 3.99 per cent. 

The deposit and credit grew at 23  per cent and 25 per cent respectively in the full-year period. 

The capital adequacy ratio (CRAR) for the quarter was 15.83 per cent, an improvement against 15.31 per cent in the previous quarter.

The gross (NPAs), as a percentage of total advances, in the present quarter, stood at 1.16 per cent, a rise against 1.08  per cent in the September quarter. In the year-ago quarter, the gross was at 0.94 per cent. 

Reserve Bank of India’s audit of the was completed in late December. The effect of divergence between the bank’s NPA accounting and that of the central bank, if any, will be seen in the next quarter. The bank has made no additional provision for the cases referred to the

On Thursday, the lender's scrip on BSE closed 2% lower at Rs 1,698.60.

First Published: Thu, January 11 2018. 17:11 IST