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IndusInd Bank net profit rises 29% in Q4

IndusInd Bank in the fourth quarter posted a 28.8 per cent growth in its net profit to Rs. 396 crore, aided by higher net interest margin and other income.

The private bank’s total income increased to Rs. 2,702 crore in the quarter ended March 31, 2014, as compared to Rs. 2,190 crore in the same period last year.

IndusInd Bank its net interest margin during the same quarter rose to 3.75 per cent.
Indusind Bank board has recommended a dividend of 35 per cent as compared to 30 per cent in the previous year.

The bank said that its net interest income rose 18 per cent to Rs. 781.21 crore in the March quarter. The bank said its asset quality remains stable and its net non-performing assets during the quarter was at 0.33 per cent of its total advances vs 0.31 per cent in the previous quarter.
The private lender’s gross non-performing assets were at Rs. 620.79 crore in March quarter vs Rs. 625.84 crore in the December quarter.
IndusInd Bank shares were up 1.3 per cent to Rs. 490.45 as compared to 0.6 per cent decline in Nifty.

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