IndusInd Bank Q4 net rises 25% to Rs 620 crore

For entire 2015-16 fiscal, bank's net profit rose 27.5% to Rs 2,286.45 cr as against Rs 1,793.72 cr a year ago

Private sector IndusInd Bank on Thursday posted a rise of 25.25% in net profit at Rs 620.35 crore for the last quarter of 2015-16 fiscal.

Bank's net profit in the corresponding January-March quarter of the previous fiscal stood at Rs 495.27 crore.

Total income of the bank increased to Rs 4,044.49 crore in the concluding quarter of the last fiscal from Rs 3,278.06 crore in the same period a year ago, IndusInd Bank said in a regulatory filing.

For the entire 2015-16 fiscal, the bank's net profit rose 27.5% to Rs 2,286.45 crore as against Rs 1,793.72 crore a year ago.

Total income for the fiscal 2015-16 was at Rs 14,877.61 crore, up from Rs 12,239.97 crore in 2014-15.

On the asset quality front, the bank's gross Non-Performing Assets (NPAs) were 0.87% of gross advances as of March 31, 2016, a tad higher than 0.81% in the same period a year ago.

Net NPAs or bad loans were 0.36% of net advances as of March 31, slightly up from 0.31%.

"For the year ended March 31, 2016, the Board of Directors has recommended a dividend of Rs 4.50 per share (45%) (previous year Rs 4 per share or 40%), subject to the approval of the members at the ensuing Annual General Meeting", it said in the filing.

Shares of IndusInd Bank closed 1.26% lower at Rs 972.50 apiece on BSE.