IndusInd Bank Q1 net profit surges 24%

IndusInd Bank Q1 net profit surges 24%
Highlights

Gross bad loans as a percentage of total loans stood at 115 at endJune, compared with 117 in the previous quarter and 109 a year earlier

Gross bad loans as a percentage of total loans stood at 1.15% at end-June, compared with 1.17% in the previous quarter and 1.09% a year earlier.

IndusInd Bank Ltd reported a 24% jump in its first-quarter net profit on Tuesday, driven by higher interest income.

Net profit climbed to Rs 1036 crore ($150.58 million) in the three months to June 30 from Rs 837 crore a year earlier, the country’s sixth-largest private sector lender by assets said in a statement.

Gross bad loans as a percentage of total loans stood at 1.15% at end-June, compared with 1.17% in the previous quarter and 1.09% a year earlier.

Interest earned by the bank, which is part of the Hinduja Group, jumped 22.6% to Rs 5068 crore.

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