IndusInd Bank has reported a net profit of Rs.180.18 crore in the quarter ended June 30, 2011, against Rs.118.55 crore in the corresponding period in the previous year, a growth of 52 per cent. Total income has improved to Rs.1,379.98 crore from Rs.932.50 crore. Other income accounted for Rs.215.40 crore against Rs.160.96 crore. Net interest income grew by 32 per cent to Rs.390.01 crore from Rs.295.68 crore and core fee income by 44 per cent to Rs.187.07 crore from Rs.129.58 crore.
The operating profit has improved to Rs.311.72 crore from Rs.230.61 crore. Total advances as on June 30, 2011, were Rs.28,384.35 crore against Rs.21,608.10 crore, a growth of 31 per cent. Deposits were Rs.35,264.06 crore against Rs.27,382.43 crore.
The capital adequacy ratio as on June 30, 2011, has increased to 14.99 per cent from 14 per cent during the year-ago period. CASA (current and savings account) stood at 28.20 per cent against 24.33 per cent. In absolute numbers on year-on-year basis, it showed an increase of 49.26 per cent.
The bank has increased its branch network to 326 and ATMs to 633 as on June 30, 2011, against 224 and 533 respectively in the corresponding period in the previous year.
Keywords: IndusInd quarterly financial statement