Indusind Net Rises 45% To Rs 53.66 Cr

IndusInd Bank Ltd has posted a jump of 45 per cent in net profit to Rs 53.66 crore for fiscal year 1999-2000 against Rs 36.80 crore achieved in the previous year.

The board of directors, which met on April 29 have recommended to maintain the dividend to 12.5 per cent.

The operating profits have gone up by 61 per cent to Rs 212.58 crore against Rs 131.43 crore in the corresponding year.

The net non-performing assets have come down to 5.95 per cent against 7.2 per cent in 1998-99. While the capital adequacy ratio stood at 13.24 per cent against 15.16 per cent in previous year.

 

The advances increased by 38.92 per cent to Rs 3,698.48 crore, while deposits was up by 30.44 per cent to Rs 6,545.97 crore.

The average cost of deposits have come down to 10.20 per cent against 11.97 per cent in the previous year. At the same time, the average yield on advances have come down to 13.2 per cent against 15 per cent in the previous year.

Investments have gone up by 31.46 per cent to Rs 2,754.12 crore as on March 31, 2000, against Rs 2,095 crore in the corresponding period.