Indusind Bank’s Q2 net surges 30%

10 Oct 2012 Evaluate

Indusind Bank has reported results for second quarter ended September 30, 2012.

The bank has registered a jump of over 29.60% in its net profit at Rs 250.25 crore as compared to Rs 193.09 crore in the corresponding month previous year. The total income of the bank has also increased by 31.05% to Rs 2048.42 crore for the quarter under review as compared to Rs 1563.07 crore in the same month last year.

Gross non-performing assets (NPAs) improved to 1.03% in the July-September quarter as against 1.09% in the same quarter previous year while net NPAs too improved to 0.29% from 0.31%. The bank’s Net Interest Margin (NIM) improved to 3.25% from 3.22% as drop in cost of funds helped margins.

Indusind Bank Share Price

946.55 16.55 (1.78%)
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