IndusInd Bank shares surge 6% post Q3 results

Shares of IndusInd Bank today rose 6 per cent after the company reported a 29 per cent surge in its December quarter net profit.

The stock opened on a positive note and jumped further by 5.93 per cent to Rs 1,230.80 on BSE.

On NSE, it surged 6 per cent to Rs 1,231.30.

Mid-sized private sector lender IndusInd Bank yesterday reported a 29 per cent surge in its December quarter net at Rs 750.64 crore, claiming that it was not impacted adversely by the demonetisation move.

The lender had posted a post tax profit of Rs 581.02 crore in the October-December period last year.
 

Its Managing Director Ramesh Sobti attributed the profit jump to a 35 per cent growth in the core net interest income at Rs 1,578 crore which grew on a faster decrease in cost of funds.