Karnataka Bank Q3 net profit up 27.5%

IndusInd Bank's Q3 net profit up almost 25

IndusInd Bank's Q3 net profit up almost 25

The company posted net profit at INR 936.25 crore for December quarter. "All vectors for both topline and bottom line have progressed as per plan".

Its net interest income (NII) grew by 20% to Rs. 1,895 crore on the back 25% year-on-year credit growth, while non-interest income growth was 17% to Rs. 1,187 crore.

Its net interest margin (NIM) stood at 3.99 per cent for the current quarter as against 4 per cent in the corresponding quarter of the previous year.

The provisions for the quarter was at INR 236 crore for the third quarter. The floating provision has been considered while computing the net NPAs and provision coverage ratio (PCR).

As a percentage of total loans, gross NPAs stood at 1.16% as compared to 1.08% in the previous quarter and 0.94% in the year-ago quarter.

The large-cap bank has equity capital of Rs 599.75 crore. "We have maintained a stable quality loan book". "Just like in the past, we will continue to launch a wide range of banking products and services which are not only unique but very germane to our consumers". Other income was at Rs1,186.76 crore, up 16.72% from Rs1,016.80 crore a year ago.

Return on Assets (ROA) at 1.96 %. IndusInd bank's provisions and contingencies rose to Rs 236.16 crore in the third quarter compared with Rs 216.85 crore in the same period a year ago.

Net NPAs were 2.85 per cent of net loans against 2.99 per cent last fiscal.

On the BSE, 1.02 lakh shares were traded on the counter so far as against the average daily volumes of 1.36 lakh shares in the past two weeks.

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