IndusInd Bank, on Monday, reported a 32 per cent growth in its net profit at Rs.330.23 crore for the quarter ended September 30, 2013, against Rs.250.25 crore in the corresponding period of the previous year. The operating profit was Rs.587.92 crore against Rs.419.82 crore, a growth of 40 per cent.
Total income increased to Rs.2,435.30 crore from Rs.2,048.42 crore. Core fee income was higher by 31 per cent at Rs.741.05 crore against Rs.565.14 crore. Non-interest income stood at Rs.416.73 crore against Rs.320.49 crore. The net interest margin was higher at 3.65 per cent against 3.25 per cent.
The bank’s net NPA (non-performing assets) declined to 0.22 per cent in the second quarter from 0.29 per cent in the year-ago period.
Romesh Sobti, Managing Director and CEO, IndusInd Bank, said in a release, “The bank has coped well in the face of disrupted money and currency markets to deliver results in line with the trend of the last 21 quarters; we have not backed off from our commitment to expand our footprint, attract new clients, and deliver robust results while sustaining the quality of earnings and the loan book.”
