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( 17 Oct 2019)
IndusInd Bank Q2 net profit jumps 50.33% at Rs 1383.37 cr

The bank reported standalone net profit of Rs 1,383.37 crore for the quarter ended September 30, 2019 as compared to Rs 920.25 crore in the same period last year, registering a year-on-yearÿgrowthÿof 50.33 per cent.

Interest income of the bank rose by 31.49 per cent at Rs 7150.36 crore for the quarter ended September 30, 2019 as against Rs 5438.09 crore in the corresponding period last year.

During the July-September quarter, total income rose substantially by 31.41 per cent to Rs 8,877.02 crore from Rs 6,755.37 crore in the year ago period.

Meanwhile, operating expenses increased by 31.79 per cent to Rs 6,277.08 crore from Rs 4,762.93 crore in the same period last year.

Operating profit surged 30.49 per cent to Rs 2,599.94 crore from Rs. 1,992.44 crore.

Provisions and Contingencies surged by 24.98 per cent at Rs 737.71 crore from Rs 590.27 crore a year ago.

NII, the difference between interest earned on loans and interest paid on deposits, increased by 32.05 per cent at Rs 2,909.54 crore versus Rs 2,203.28 crore in the year ago period. Non-interest income rose 31.08 per cent year-on-year to Rs 1,726.66 crore.

On the asset side, gross non- performing assets (NPAs)ÿroseÿto 2.19 per cent of the gross advances as at the end of September 30, 2019 from a level of 1.09 per cent year earlier. Its net NPAs or bad loans tooÿincreasedÿto 1.12 per cent of net advances on September 30, 2019 from 0.48 per cent a year ago.