Mumbai: Private sector IndusInd Bank Ltd on Monday announced a 31% jump in net profit for the quarter ended 30 June, backed by strong growth in fee-based income and net interest income.
Profit rose to Rs236.26 crore from Rs180.18 crore in the year earlier. Fee-based income rose to Rs269.03 crore from Rs187 crore and net interest income, or the interest earnings from loans after paying depositors, stood at Rs484 crore, up 24% from Rs390 crore in the same period last year.
The numbes failed to cheer investors. The bank lost 0.25% to close at Rs342.50 on Tuesday on the Bombay Stock Exchange. The benchmark Sensex gained 1.30% and the banking sector index, the Bankex, gained 1.54% . Earnings were announced during market hours.
Total loans rose to Rs37,244 crore, up 31%, from Rs28,384 crore, while deposits rose to Rs45,075 crore from Rs35,264 crore, the bank said in a release.
Gross non-performing assets declined to 0.97% from 1.08% in the same quarter last year.
dinesh.n@livemint.com
