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04-20-2012, 08:45 AM #1
IndusInd Bank's net profit jumps 30%
IndusInd Bank on Thursday reported over 30 per cent jump in net profit at Rs 223.38 crore for the fourth quarter ended March 31, driven by increase in advances.
The private sector lender had posted a net profit of Rs 171.76 crore in the same period last fiscal.
Total income increased to Rs 1,773.07 crore in the January-March 2012 period from Rs 1,230.47 core in the same quarter last fiscal, IndusInd Bank said in a BSE filing.
Net interest income (interest earned less interest expended) during Q4 was Rs 464.4 crore, as against Rs 388.08 crore in the same period a year ago, registering a growth of 19.66 per cent.
As on March 31, 2012, advances of InduInd Bank stood at Rs 35,063.95 crore, up from Rs 26,165.65 crore year-on-year.
In the fiscal 2011-12, the bank reported a net profit of Rs 802.61 crore, up by about 39 per cent, from Rs 577.32 crore in the previous year.
Its total income increased in 2011-12 to Rs 6,370.98 crore from Rs 4,303.02 crore in the fiscal ending March 31, 2011.
The gross non-performance asset (NPA) as a proportion of advances declined to 0.98 per cent against 1.01 per cent in the previous fiscal. Net NPA declined marginally to 0.27 per cent from 0.28 per cent in 2011-12, the bank said.
Meanwhile, Indusind Bank's Board of Directors has proposed a dividend at a rate of Rs 2.20 per share on the face value of Rs 10.
"The dividend, if approved by the shareholder in the AGM, shall be paid within four days," the bank added.