NEW DELHI: Private sector lender IndusInd Bank today posted a 24.72 per cent increase in net profit to Rs 936.25 crore for the quarter ended on December 31, 2017.The bank had recorded a net profit of Rs 750.64 crore in the October-December quarter of last fiscal.
IndusInd Bank Q3 net rises 25% to Rs 936.25 crore
Total income of the lender also increased to Rs 5,473.54 crore during the quarter under review, up 16.05 per cent as against Rs 4,716.13 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a BSE filing.The gross non-performing assets (NPAs) of IndusInd Bank increased to 1.16 per cent of the total advances during the third quarter of the current fiscal, against 0.94 per cent at the end of third quarter of 2016-17.
Commenting on the performance, IndusInd Bank MD & CEO Romesh Sobti said: "The bank has continued to show a steadfast performance again in this quarter. All vectors for both topline and bottom line have progressed as per plan. We have maintained a stable quality loan book".
Its net interest margin (NIM) stood at 3.99 per cent for the current quarter as against 4 per cent in the corresponding quarter of the previous year.
Shares of IndusInd Bank were trading 0.68 per cent lower at Rs 1,723 on BSE.