IndusInd Bank net up 30%, hopes to keep margin intact

Private sector IndusInd Bank reported a 29.5 percent on year increase in net profit for July-September to Rs 250 crore, higher than a CNBC TV18 poll of Rs 241 crore.

FP Staff December 20, 2014 12:40:41 IST
IndusInd Bank net up 30%, hopes to keep margin intact

Private sector IndusInd Bank reported a 29.5 percent on year increase in net profit for July-September to Rs 250 crore, higher than a CNBC TV18 poll of Rs 241 crore.

The bank's net interest income, however, stood at Rs 509 core, lower than the poll estimate of Rs 514 crore.

In the year-ago period, the NII stood at Rs 419.19 crore.

IndusInd Bank net up 30 hopes to keep margin intact

The bank's net interest margin rose to 3.25 percent from 3.22 percent a year ago. Its net non-performing asset was 0.29 percent as of September 30, compared with 0.27 percent a year ago. Reuters

The bank's net interest margin rose to 3.25 percent from 3.22 percent a year ago. Its net non-performing asset was 0.29 percent as of September 30, compared with 0.27 percent a year ago.

In a post earnings press conference, Managing Director Romesh Sobti said the bank has been able to maintain the quality of the bank's book.

He said a fall in the cost of funds helped the bank to maintain its margin. He also hopes to maintain healthy margin in the coming quarters as well.

Shares of the bank, however, declined 2.6 percent to Rs 357 on the BSE.

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