NEW DELHI: Private lender IndusInd Bank on Thursday reported a 26.8 per cent rise in net profit at Rs 953.09 crore for the quarter ended March against Rs 751.61 crore in the year ago period.
The figures were in line with ETNow poll of Rs 955 crore.Total income of the bank stood at Rs 5,858.62 crore against Rs 5,041.31 crore in corresponding quarter last fiscal.The bank's gross NPAs stood at Rs 1,704.91 crore for the March quarter against Rs 1,498.7 crore in the December quarter.
GNPA increased 14 per cent on QoQ and 61.6 per cent YoY.Net interest income (NII) for the March quarter rose 20 per cent YoY to Rs 2,007.59 crore against Rs 1,667.45 crore in the year ago quarter.Diluted EPS of the company came in at Rs 15.73.For the year ended March, the board recommended a dividend of Rs 7.50 per share (75 per cent), subject to the approval from the shareholders at the annual general meeting.The bank also said it has transferred Rs 70 crore towards floating provision in advances for the June quarter.
The floating provision has been considered while computing the net NPAs and Provision Coverage Ratio (PCR).