Indusind Bank Q1 net rises 26% to Rs 421 cr; meets estimates
09/07/2014 17:08
Private-sector lender, Indusind Bank Ltd reported a rise of 25.7 per cent year-on-year in its standalone net profit at Rs 421.06 crore for the first quarter ended June 30, 2014, supported by stable asset quality and higher other income. “The bank had posted the standalone net profit of Rs 334.84 crore in the corresponding period a year ago,” Indusind Bank said in a filing to Bombay Stock Exchange. In Q1 FY14-15, the total income of the bank has increased 20 per cent from Rs 23828.10 crore for the quarter ended June 30, 2013 to Rs 2873.680 crore for the quarter ended June 30, 2014. During the quarter under review, Net interest income, the difference between interest earned and interest expended, increased by 17.7 percent on yearly basis to Rs 800 crore and other income (non-interest income) 22.5 percent to Rs 576.4 crore in the quarter gone by. However, net interest margin declined marginally to 3.66 percent from 3.75 percent on quarter-on-quarter basis. On the asset quality front, gross non-performing assets (NPA) were steady at 1.11 percent in April-June quarter as against 1.12 percent in a year-ago period, while net NPA was unchanged at 0.33 percent sequentially, which was at 0.21 percent in corresponding quarter of last fiscal. Further, the loan book of the bank grew 34 per cent during the quarter under review. Capital adequacy ratio remained 13.11 per cent while the bank's provisions has been recorded Rs 110 crore for the said quarter.
09/07/2014 17:08
Private-sector lender, Indusind Bank Ltd reported a rise of 25.7 per cent year-on-year in its standalone net profit at Rs 421.06 crore for the first quarter ended June 30, 2014, supported by stable asset quality and higher other income. “The bank had posted the standalone net profit of Rs 334.84 crore in the corresponding period a year ago,” Indusind Bank said in a filing to Bombay Stock Exchange. In Q1 FY14-15, the total income of the bank has increased 20 per cent from Rs 23828.10 crore for the quarter ended June 30, 2013 to Rs 2873.680 crore for the quarter ended June 30, 2014. During the quarter under review, Net interest income, the difference between interest earned and interest expended, increased by 17.7 percent on yearly basis to Rs 800 crore and other income (non-interest income) 22.5 percent to Rs 576.4 crore in the quarter gone by. However, net interest margin declined marginally to 3.66 percent from 3.75 percent on quarter-on-quarter basis. On the asset quality front, gross non-performing assets (NPA) were steady at 1.11 percent in April-June quarter as against 1.12 percent in a year-ago period, while net NPA was unchanged at 0.33 percent sequentially, which was at 0.21 percent in corresponding quarter of last fiscal. Further, the loan book of the bank grew 34 per cent during the quarter under review. Capital adequacy ratio remained 13.11 per cent while the bank's provisions has been recorded Rs 110 crore for the said quarter.
