IndusInd Bank Q2 net up 25%

IndusInd Bank's September Quarter Profit Rises 25

IndusInd Bank's September Quarter Profit Rises 25

IndusInd Bank on Thursday reported a rise of 25 per cent in its net profit for the second quarter (Q2) of 2017-18.

Net profit rose to 8.80 billion rupees ($12.3 million) for the quarter ended September 30, the sixth largest Indian private sector lender by assets said on Thursday.

On the asset quality front, the net NPA came in at Rs 537 crore against Rs 508.3 crore in the previous quarter, while its gross NPAs have also posted some increase to Rs 1,345.3 crore against Rs 1,271.7 crore in the previous quarter. Its total advances went up by 24% to Rs 1.23 lakh crore as on September end while deposit growth was 26% to Rs 1.41 lakh crore.

IndusInd in regards to its deal with Bharat Financial said, "The proposed transaction is still under evaluation and does not have any impact on the current financial results or the financial position of the bank as at September 30, 2017".

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