Robust growth in net interest income and non-interest income helped IndusInd Bank report a net profit of ₹704 crore, up 26 per cent year-on-year, in the July-September quarter. It’s profit in the year ago period was ₹560 crore.
The private sector bank reported a net interest income (the difference between interest earned and expended) of ₹1,460 crore, up 33 per cent year-on-year. Non-interest income increased 24 per cent to ₹970 crore.
Romesh Sobti, MD and CEO, said, “This quarter, the bank has registered positive growth across all vectors despite tepid global markets and not so buoyant domestic market. However, the overall industry sentiment looks optimistic with a gradual uptick in credit pick-up likely in the coming quarters.”
Net interest margin (NIM) in the second quarter improved to 4 per cent as against 3.88 per cent in the year ago period.
Gross non-performing assets (NPA) as a percentage of gross advances edged up to 0.90 per cent during the quarter versus 0.77 per cent in the year ago quarter.
Gross NPAs stood at ₹900 crore (₹602 crore).
Provisions (other than tax) & contingencies were up 35 per cent at ₹214 crore (₹158 crore in the year ago period).
Deposits were up 39 per cent yoy at ₹1.12 lakh crore as on September 30, 2016.
Advance rose 26 per cent yoy at ₹98,949 crore as on September 30, 2016.
Capital adequacy ratio declined to 15.32 per cent as at September-end 2016 as against 16.52 per cent as at September-end 2015.