Latest News
-
India's Unemployment Rate To Decline 97 Basis Points By 2028, ORF Report Says -
Tohfa, Tohfa, Tohfa: Tata's NBFC To Power; 9 Tata Group Stocks To Pay Massive Dividends In Coming Weeks -
Penny Stock Below Rs 50 Announces Major Update On 6:11 Bonus Shares; Bet? -
Indian Rupee Hits Record Low Amid Middle East Concerns And Fed Rate Speculations -
Gold Rates In UAE: Huge Jump Of Nearly Rs 1,000 In 24-Carat Yellow Metal In Dubai; WHY? -
Nykaa’s Co-founder Adwaita Nayar Named Young Global Leader In WEF’s Class Of 2024 -
2:5 Bonus: Buy Auto Ancillaries Stock Amid Growing Buying Interest, TP Rs 140: Dividend Soon -
6000% Returns In 3 Years: This Multibagger Penny Metal Stock Soars 140% In 12 Months, Hits Record High -
ONGC Stocks Rises 4% On Amid Tensions In Middle East Oil Markets -
2:1 Bonus: Energy Stock Hits 5% Upper Circuit Ahead Of Dividend Recommendations For FY24, Up 509% From Lows
IndusInd Bank Q3 Profit Increases By 25%, NPAs Grow Marginally
Vehicle finance business of the banking institution has enabled it to reach this scale of profitability in line with the estimates.
In line with the estimates private sector banker IndusInd Bank reported profits higher by 25% at Rs. 936.2 crore for the quarter ending December 2017. In the year ago quarter, the lender reported profit of Rs. 750.64 crore. Profitability for the bank was driven primarily by operating income, net interest income (NII) and other income.
NII for the bank grew by 20% on a year-on-year basis at Rs. 1,895 crore which was reported at Rs 1,578.4 crore in the year-ago quarter.
The credit offtake by the bank also registered an increase of 25% while deposits increased by 23% YoY with increase in savings deposits at 68%.
Net interest margin for the bank however declined to 3.99% as against 4% reported for the previous as well as corresponding quarter.
Provisions for bad loans increased from Rs 216.9 crore to Rs 236.2 crore YoY.
Asset quality of the bank weakened as gross NPAs and net NPAs were reported higher at 1.16% and 0.46% as against 1.08% and 0.44% in the previous quarter.
At 2:58 pm, the stock price was quoting at Rs 1,701.45, down Rs 33, or 1.9 percent on the BSE.
Goodreturns.in
