IndusInd Bank net profit rises over 26% in Q1, NPA situation remains a concern

 BT Online        Last Updated: July 11, 2017  | 15:31 IST
IndusInd Bank net profit rises over 26% in Q1

Private sector lender IndusInd Bank on Tuesday reported a 26.5 percent rise in net profit for the first quarter of the current fiscal.

The lender posted Rs 836.55 crore in Q1 compared to Rs 661.38 crore for the first quarter of 2016-17.

The bank earned Rs 4,135.51 crore in interest for the quarter under consideration compared with Rs 3,390.60 crore for the corresponding quarter of last fiscal.

Its tax expense in Q1 stood at Rs 442.01 crore compared with Rs 341.94 crore in the year ago period.

Net non-performing assets ratio stood at  0.44 percent in Q1 against 0.38 percent in the corresponding quarter of the previous fiscal.

Earnings per share (EPS) basic for the quarter ended  30 June 2017 stood at Rs 13.98 compared with Rs 11.11 in the first quarter of last fiscal

Its total income rose 21.5 per cent to Rs 5,302.77 crore as against Rs 4,363.57 crore in the year-ago period, the bank said in a regulatory filing.

On the asset front, bank's gross non-performing assets (NPAs) rose to 1.09 per cent of the gross advances as on June 2017 compared to 0.91 per cent in the same period a year ago.

Net NPAs or bad loans, as a percentage of net advances, were 0.44 per cent as against 0.38 per cent, a year ago.

The lender put aside Rs 309.97 crore to cover bad loans and contingencies for April-June quarter of 2017-18, higher from Rs 230.47 crore parked for the similar quarter of 2016-17.

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