Private sector IndusInd Bank has reported 94 per cent growth in its net profit for the quarter ended March to Rs 97.96 crore, compared to Rs 50.52 crore during the corresponding quarter of the previous year.
The growth was mainly driven by 89 per cent increase in net interest income to Rs 272.79 crore and also supported by a 47 per cent rise in core fee income to Rs 112.21 crore. The core fee income excludes revenues from treasury operations.
For 2009-10, the bank’s net profit grew 136 per cent to Rs 350 crore from Rs 148 crore in the previous year.
Managing Director and chief Executive Officer Romesh Sobti said the main drivers of profit in the January-March quarter were increased interest income and core fee income.
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