IndusInd Bank Q1 net profit up 38.31% at Rs 1432.50 cr

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The bank reported standalone net profit of Rs 1,432.50 crore for the quarter ended June 30, 2019 as compared to Rs 1035.72 crore in the same period last year, registering a year-on-year growth of 38.31 per cent. 




Interest income of the bank rose by 37.36 per cent at Rs 6961.37 crore for the quarter ended June 30, 2019 as against Rs 5068.15 crore in the corresponding period last year. During the April-June quarter, total income rose substantially by 35.40 per cent to Rs 8,624.62 crore from Rs 6,369.75 crore in the year ago period. Meanwhile, operating expenses increased by 35.33 per cent to Rs 6,033.66 crore from Rs 4,458.62 crore in the same period last year.

Operating profit surged 35.57 per cent to Rs 2,590.96 crore from Rs. 1,911.13 crore. Provisions and Contingencies surged by 23.03 per cent at Rs 430.62 crore from Rs 350.01 crore a year ago. NII, the difference between interest earned on loans and interest paid on deposits, increased by 34.00 per cent at Rs 2,843.99 crore versus Rs 2,122.43 crore in the year ago period. 

Non-interest income rose 27.79 per cent year-on-year to Rs 1,663.25 crore. On the asset side, gross non- performing assets (NPAs) rose to 2.15 per cent of the gross advances as at the end of June 30, 2019 from a level of 1.15 per cent year earlier. Its net NPAs or bad loans too increased to 1.23 per cent of net advances on June 30, 2019 from 0.51 per cent a year ago.


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