IndusInd Bank Q3 consolidated net profit up 33%
Tuesday - January 14, 2020 9:19 pm , Category : BUSINESS
Mumbai, Jan 14 (IANS) Private lender IndusInd Bank on Tuesday reported a 33 per cent increase in its consolidated net profit for the third quarter (Q3) of 2019-20, at Rs 1,309 crore against Rs 985 crore in the corresponding period of last fiscal.According to the lender, its net interest income (NII) for the quarter grew by 34 per cent to Rs 3,074 crore from Rs 2,288 crore earned during the corresponding quarter of the previous year.The non-interest income for the quarter rose by 22 per cent to Rs 1,790 crore as against Rs 1,469 crore in the corresponding quarter of the previous year.Further, the lender reported that net NPA as on December 31, 2019 rose to 1.05 per cent as against 0.59 per cent reported for same period of the previous year.IndusInd Bank's MD and CEO Romesh Sobti said: "During Q3 FY-20, the Bank witnessed a healthy growth in its topline as well as in operating profits.""... The balance sheet footage crossed Rs 3 trillion and the advances crossed the Rs 2 trillion mark. PCR has been increased to 53 per cent to strengthen the balance sheet. We look forward to moving into the subsequent quarters with renewed momentum."