IndusInd Bank today said its net profit for the quarter ended September 30, 2012 expanded by 30% from a year ago to Rs 250.3 crore driven by rise in fee income, stable margin and higher interest income from advances.
Net interest income, or the difference between interest income and interest expense, was at Rs 509.7 crore during the quarter, up 22% from a year earlier. The bank improved its net interest margin to 3.25% in July-September period from 3.22% in the corresponding period last year.
IndusInd Bank's core fee income surged 40% year-on-year to Rs 296.1 crore during this period.
"The second quarter results maintain the trend of previous quarters, apart from maintaining the growth rates and continuing momentum in core fee as well as net interest income, IndusInd Bank was able to sustain the health of its loan book," Romesh Sobti, managing director and chief executive of the bank, said in his post earnings comments.
The private lender improved its gross non-performing asset ratio by 6 basis points to 1.03%, while its net bad loan ratio also declined by 2 basis points to 0.29% at the end of September, 2012.
The bank's advances increased by 30.8%, while its deposits grew by 24.5% year-on-year. The share of low-cost current account savings account (CASA) deposits also improved to 27.98% at the end of July-September quarter.
The bank has a network of 441 branches and 796 automated teller machines (ATMs).
IndusInd Bank closed the quarter with a capital adequacy ratio of 12.85%.