IndusInd Bank standalone net jumps 55% to Rs 1,361 cr, gross NPAs dip

The bank's board announced a dividend of Rs 8.5 a share

IndusInd Bank on Friday reported that its standalone net profit jumped 55.5 per cent to Rs 1,361.37 crore, from Rs 875.95 crore in the corresponding quarter last year.

Interest earned for the quarter rose 5.93 per cent in the March quarter to Rs 7,859.89 crore compared with Rs 7,419.36 crore in the same quarter last year.

Gross non-performing asset (NPA) for the quarter came in at 2.27 per cent compared with 2.48 per cent in the December quarter and 2.67 per cent in the same quarter last year.

The bank made provisions and contingencies of Rs 1,463.52 crore compared to Rs 1,654 crore in December quarter and Rs 1,865.69 crore in the year ago quarter.

The bank's board announced a dividend of Rs 8.5 per share.

Shares of the lender ended 0.94 per cent down at Rs 978.20 apiece on BSE on Friday.