IndusInd Bank hits record high on healthy Q4 earnings
The private sector bank has reported 38% year-on-year jump in net profit at Rs 307 crore for the quarter-ended March 2013, due to higher interest and other income.
IndusInd Bank has surged 7.4% to Rs 451, also its record high, on reporting 38% year-on-year (yoy) jump in net profit at Rs 307 crore for the quarter-ended March 2013 (Q4), due to higher interest and other income. The private sector bank had profit of Rs 223 crore in a year ago quarter.
“The bank’s net interest income (NII) in Q4 has grew 42% at Rs 661 crore, while other income increased 26% at Rs 368 crore on yoy basis,” IndusInd Bank said in a statement.
Meanwhile, the board of directors of the bank has approved a dividend of Rs 3.00 per equity share of paid up value of Rs 10 for the financial year 2012-13.
The dividend, if approved by the shareholders in the Annual General Meeting, shall be paid out on July 01, 2013, it added.
The stock opened at Rs 422 and hit a low of Rs 418 before announcement of results on NSE. A combined 3.95 million shares have changed hands on the counter till 1505 hours on NSE and BSE.
“The bank’s net interest income (NII) in Q4 has grew 42% at Rs 661 crore, while other income increased 26% at Rs 368 crore on yoy basis,” IndusInd Bank said in a statement.
Meanwhile, the board of directors of the bank has approved a dividend of Rs 3.00 per equity share of paid up value of Rs 10 for the financial year 2012-13.
The dividend, if approved by the shareholders in the Annual General Meeting, shall be paid out on July 01, 2013, it added.
The stock opened at Rs 422 and hit a low of Rs 418 before announcement of results on NSE. A combined 3.95 million shares have changed hands on the counter till 1505 hours on NSE and BSE.