IndusInd Q4 net profit jumps 76% to Rs 172 cr

IndusInd Bank has clocked a net profit of Rs 172 crore in Q4 FY11, up 76% from Rs 98 crore in the corresponding quarter of previous fiscal. Net interest income (NII) of private sector bank has increased 78% to Rs 488 crore from Rs 273 crore during the recently concluded quarter.

For the financial year ended March 2011, the bank has reported 65% jump in its net profit at Rs 577 crore compared with Rs 350 crore in previous fiscal. NII grew 55% at Rs 1,376 crore (Rs 886 crore) during the fiscal.

Its net non-performing assets (NPA) were pegged at 0.28% in FY11, a decline of 0.22% in comparison to the previous year, when they were pegged at 0.50%, according to a press release issued by the bank.

The board of directors of the bank has approved dividend of Rs 2 per equity share of paid up value of Rs 10. The dividend shall be paid out by July 19, 2011, the bank said in a filing to the stock exchanges.

The stock was up around one% at Rs 281 on the National Stock Exchange (NSE) at 1358 hours.