IndusInd Bank second-quarter profit rises 25 percent

IndusInd Bank's September Quarter Profit Rises 25

IndusInd Bank's September Quarter Profit Rises 25

Private sector lender IndusInd Bank reported 25% increase in its net profit to Rs 880.1 crore for the quarter ended September helped by both interest income and fee income.

Net profit rose to 8.80 billion rupees ($12.3 million) for the quarter ended September 30, the sixth largest Indian private sector lender by assets said on Thursday.

In percentage terms, IndusInd's gross NPA rose to 1.08% in Q2 versus 0.90% in Q2FY17 and 1.09% in Q1FY18. While advances were at Rs 123,180.82 crore up 24.48% as against Rs 98,949.07 crore in the corresponding period of the previous year.

Announcing the bank's results on Thursday, MD & CEO Romesh Sobti, said that saving deposits grew by 95% y-o-y from Rs 20,567 crore in September 2016 to Rs 40,157 crore in September 2017.