IndusInd Bank profit jumps 75.33%
IndusInd Bank profit jumps 75.33%
Mumbai: Private sector IndusInd Bank Ltd on Monday said profit rose 75.33% in the January-March quarter to Rs171.76 crore from Rs97.96 crore in the year earlier mainly on the back of a surge in core interest income, the main income from banking operations.
Interest income rose 45.62% to Rs1,048.84 crore from Rs720.21 crore last year as demand for loans accelerated in the last quarter of the 2010-11 financial year.
Both interest income and net profit exceeded Bloomberg’s estimates of Rs569.75 crore and Rs161.79 crore respectively.
The bank posted earnings per share of ₹ 3.62, up from ₹ 2.34 in the same period last year.
At 02:10 pm IndusInd shares were trading at Rs279.15, down 0.20%, compared with a 1.41% drop in the benchmark 30-share Sensex.
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