Business

IndusInd Bank reports 38 pc jump in Q1 net profit at Rs 1,433 crore

ANI | July 12, 2019 03:56 PM
The earnings came following merger with Bharat Financial Inclusion

Mumbai (Maharashtra) [India], July 12 (ANI): IndusInd Bank on Friday reported net profit of Rs 1,433 crore for the quarter ended June 2019, up 38 per cent compared to Rs 1,036 crore in the corresponding period of last year.

Net interest income (the difference between interest earned and interest expended) moved up by 34 per cent to Rs 2,844 crore in the year-on period with loan growth at 28 per cent.

The bank said total deposits as on June 2019 totalled Rs 2 lakh crore, about 26 per cent higher compared to Rs 1.59 lakh crore in the first quarter of previous fiscal.

Net interest margin improved to 4.05 per cent in Q1 of FY20, from 3.59 per cent in March quarter and 3.92 per cent in Q1 of FY19.

However, asset quality weakened slightly. Gross non-performing assets (NPAs) as a percentage of gross advances were 2.15 per cent against 2.1 per cent in the previous quarter.

Net NPAs also increased to 1.23 per cent in Q1 FY20 against 1.2 per cent reported in the fourth quarter of FY19, according to a statement. (ANI)

Have something to say? Post your comment
Must Read
Police Force should stay fit to tackle challenges: Commissioner of Police
Police Force should stay fit to tackle challenges: Commissioner of Police
An Awareness Seminar on ‘Say to No Drugs’ by ‘Satyamev Jayate Society’ at Innocent Hearts School.
An Awareness Seminar on ‘Say to No Drugs’ by ‘Satyamev Jayate Society’ at Innocent Hearts School.
Anti-larva team detects 15 larva cases
Anti-larva team detects 15 larva cases
Aero-adventure camp at Air force station Bhisiana
Aero-adventure camp at Air force station Bhisiana
Artists of Innocent Hearts Brought Laurels to their Almamater; selected for State Level
Artists of Innocent Hearts Brought Laurels to their Almamater; selected for State Level
6325 students from 189 schools participate in mega event Sabyatech at CT Group
6325 students from 189 schools participate in mega event Sabyatech at CT Group
Airtel shuts down 3G network in Punjab, upgrades customers to high speed 4G network
Airtel shuts down 3G network in Punjab, upgrades customers to high speed 4G network
Anti-larva team detects 23 larva cases
Anti-larva team detects 23 larva cases
Closed Day for voters of Haryana working in Punjab factories
Closed Day for voters of Haryana working in Punjab factories
More than 10,000 people visit digital museum in LKC ground during three days
More than 10,000 people visit digital museum in LKC ground during three days
First Self Help Group Mela of Punjab-‘LAADO’ to be held from 23rd-24th October
First Self Help Group Mela of Punjab-‘LAADO’ to be held from 23rd-24th October
Veterinary pharmacist meeting held in Gandhi park.
Veterinary pharmacist meeting held in Gandhi park.