IndusInd Bank Q2 net profit up 30% to Rs 250 crore

Business

oi-Sneha

By Sneha B K

Updated: Wednesday, October 10, 2012, 15:29 [IST]

IndusInd Bank reported 30% increase in its net profit for the quarter ending September, 2012 as against Rs 193.09 crore in the corresponding quarter of the previous year.

The shares of the company was seen trading at Rs 359, lower by 2.10% on BSE at 2.55 pm IST.

Operating Profit for the quarter was Rs 419.82 crore as against Rs 332.98 crore in the corresponding
quarter of the previous year, showing a growth of 26%.

Net Interest Income (NII) stood at Rs509.73 crore when compared to Rs 419.19 crore in the corresponding quarter of the previous year, registering robust growth of 22%.

Core Fee Income for the quarter was Rs 296.10 crore as against Rs 211.87 crore in the corresponding
quarter of the previous year, showing a spectacular growth of 40%.

Net Interest Margin (NIM) for the current quarter was 3.25% as against 3.35% in the corresponding
quarter of the previous year.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, "Q2 results maintain the trend of previous Quarters, apart from maintaining the growth rates and continuing momentum in Core Fee as well as Net Interest Income, IndusInd bank was able to sustain the health of its loan book. The Bank achieved another milestone of launching its 100th solar ATM in the country", said in the press release.

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