 "IndusInd Bank Q2 net profit jumps 52% to Rs 1,401 cr; gross non-performing assets double to 2.19%")
New Delhi: IndusInd Bank on Thursday reported a jump of 52.2 percent in consolidated net profit at Rs 1,400.96 crore for September quarter of the ongoing financial year.
#2QWithCNBCTV18 | @MyIndusIndBank's net NPA improves on a sequential basis, gross NPA almost in-line pic.twitter.com/Bk8sNq7g5U
— CNBC-TV18 (@CNBCTV18Live) October 10, 2019
The private sector lender had posted a profit of Rs 920.34 crore for July-September period of 2018-19.
Total income during the second quarter of 2019-20 rose to Rs 8,877.53 crore from Rs 6,755.37 crore in the year-ago period.
However, the bank’s gross non-performing assets (NPAs) rose to 2.19 percent of gross advances as on 30 September, 2019 from 1.09 percent by the same period a year ago.
Net NPAs or bad loans were 1.12 percent, up from 0.48 percent a year earlier.
The bank’s provision for bad loans and contingencies for the September quarter was increased to Rs 737.71 crore, as against Rs 590.27 crore parked aside a year ago.
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