New Delhi, October 12: Private sector lender IndusInd Bank today posted 25 per cent increase in net profit to Rs 880.10 crore for the second quarter ended September 30. The bank had a net profit of Rs 704.26 crore in the July-September quarter of the last fiscal, IndusInd Bank said in a regulatory filing on stock exchanges.
The total income of the lender also increased to Rs 5,395.92 crore during the quarter under review, as against Rs 4,439.72 crore in the corresponding period of 2016-17. The gross non-performing assets (NPAs) of the bank rose to 1.08 per cent of the total advances, from 0.90 per cent at the end of the second quarter of the previous fiscal. Similarly, net NPAs rose to 0.44 per cent from 0.37 per cent in same quarter a year ago.
Consequently, the bank made higher provisioning of Rs 294 crore as compared to Rs 214 crore in the year-ago quarter. For the first half ended September, the bank’s net profit rose 25.7 per cent to Rs 1,716.65 crore against Rs 1,365.64 crore in the year-ago period.
This is published unedited from the PTI feed.