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IndusInd Bank spurts after announcing Q4 result

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rose 5.45% to Rs 1,526.50 at 15:18 IST on BSE after the announced its Q4 result during trading hours today, 22 May 2019.

Meanwhile, the S&P was up 127.62 points, or 0.33% to 39,097.42

On the BSE, 8.50 lakh shares were traded in the counter so far compared with average daily volumes of 1.28 lakh shares in the past two weeks. The stock had hit a high of Rs 1,535.75 and a low of Rs 1,385.50 so far during the day.

IndusInd Bank's net profit dropped 62.21% to Rs 360.10 crore on 28.87% rise in total income to Rs 7550.43 crore in Q4 March 2019 over Q4 March 2018. Adjusted for one-off provisions, net profit works out to Rs 1189 crore showing growth of 25% Y-o-Y.

Commenting on the performance, Romesh Sobti, MD & CEO, said in FY 19, as well as Q4 March 2019, while the bank has witnessed robust growth in its topline as well as in operating profits, aggressive one time provisioning for a group exposure in the infrastructure sector depressed the bottom line.

is a leading As on 31 March 2019, IndusInd Bank has 1665 branches, and 2545 ATMs spread across 736 geographical locations of the country.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 22 2019. 15:27 IST
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