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IndusInd Bank's Q1 net profit rises 26%

Net interest margin, the difference between yield on advances and cost of fund, was flat at 4%

IndusInd Bank
IndusInd Bank

Private sector lender IndusInd Bank’s first quarter net profit rose 26 per cent on healthy interest income as the bank bucked the industry norm to grow its advances book at a fast clip.  The bank’s net profit rose to Rs 836.55 crore in the quarter ended June, compared with Rs 661.38 crore in the year-ago quarter. The bank's net interest income, or the interest earned minus interest expended, rose 31 per cent.  The net interest margin, the difference between yield on advances and cost of fund, was flat at 4 per cent.  The deposit and ...