IndusInd Bank net profit up 131% in Q2 | india | Hindustan Times
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IndusInd Bank net profit up 131% in Q2

india Updated: Oct 14, 2009 20:12 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Net profit of IndusInd Bank increased by 131 per cent in the September quarter of 2009, at Rs 77.8 crore from Rs 33.7 crore in the corresponding quarter of the previous year.

The half-yearly (April-September 2009) figures show a 211 per cent hike in growth compared with same period last year.

Compared with second quarter of 2008, net interest income for the present quarter went up 98 per cent at over Rs 208 crore, while the operating profit increased by 132 per cent to over Rs 155 crore. Net interest margin for the current quarter was 2.86 per cent as against 1.68 per cent in the corresponding quarter of last year.

Romesh Sobti, managing director and CEO of IndusInd Bank said, “We are firmly saddled on a growth trajectory with positive contributions flowing in from all functional areas.”

Gross non-performing asset (NPA) in the current quarter dropped 1.5 per cent to Rs 265.1 crore from Rs 424.54 crore or 3 per cent in comparative quarter of last year. The net NPA also fell Rs 171.7 crore at 0.98 per cent as against Rs 310.6 crore at 2.21 per cent in the previous second quarter.