IndusInd Bank Q3 net up 25%; Provisions grow 9%


Net profit climbed to 9.36 billion rupees ($146.87 million) in the quarter ended December 31, from 7.51 billion rupees a year ago, the country's sixth-largest private sector lender by assets said.

IndusInd Bank managing director and CEO Romesh Sobti pointed out that the balance sheet size of the bank has crossed Rs 2 lakh crore for the first time.

The bank's net interest income increased by 20 per cent to Rs 1,894.81 crore from Rs 1,578.42 crore earned during the corresponding quarter of the previous year. Gross and NPAs were at ₹1,784.31 crore and ₹1,262.96 crore, respectively in Q3 of 2017-18 against ₹1,560.23 crore and ₹1,065.66 crore in third quarter of 2016-17, respectively. This was largely aided by 16 per cent yoy rise in interest income which stood at Rs. 4,286 crore. We have maintained a stable quality loan book.

Core fee income for the quarter was Rs. 1,076.51 crores as against Rs. 884.84 crores in the corresponding quarter of the previous year, marking a growth of 22%. The bank's capital adequacy remained strong for Q3FY18 at 15.83 per cent compared to 15.31 in the previous year's corresponding quarter.

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The provisions for the quarter was at INR 236 crore for the third quarter.

On the other hand, gross non-performing assets (GNPA) of IndusInd, came in at Rs 1,498.70 crore - rising by 54.24% yoy and 11.40% qoq. This resulted in 25 per cent yoy to Rs. 936 crore in Q3FY18 compared to Rs. 750 crore in Q3FY17.

At 3.03pm, Indusind Bank shares were trading at Rs1702.75 on BSE, down 1.84% from its previous close while India's benchmark Sensex Index gained 0.13% to 34,477.79 points.