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IndusInd Bank Q1 net rises over 31% to Rs 236.3 cr

Press Trust of India/New Delhi 10 Jul 12 | 05:56 PM
Related to : IndusInd Bank Ltd
 IndusInd Bank Ltd
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IndusInd Bank today reported 31.1% rise in net profit at Rs 236.3 crore for the first of quarter of this financial year.

The private sector bank's profit was Rs 180.2 crore in the corresponding period of the previous fiscal.

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The bank's total income during the quarter under review rose by 41.4% to Rs 1,950.8 crore from Rs 1,379.98 crore in the year-ago period, IndusInd Bank said in a BSE filing.

The net interest margin (NIM) was 3.2% in the April-June period, down 3.4% in the corresponding period last year.

"The Bank has coped well in a deteriorating operating environment to deliver a healthy growth in the bottom line and balance sheet while maintaining the quality of the loan book," IndusInd Bank Managing Director and Chief Operating Officer Romesh Sobti said in a statement.

While total deposits as of June 30, 2012 were at Rs 45,075.9 crore, total advances were at Rs 37,244.5 crore.

Net interest income (NII) increased by 24% to Rs 484.1 crore during the first quarter.

Shares of the bank ended at Rs 342.50 apiece on the BSE today, down 0.3% from previous close.

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