 "Indusind Bank hits new high as Q2 profit beats forecast")
Indusind Bank has moved higher by 3% to Rs 643 on BSE after reporting better-than-expected 30% year on year (yoy) jump in net profit at Rs 430 crore for the second quarter ended September 2014. The private sector lender had profit of Rs 330 crore in previous year quarter.
Net interest income, the difference between interest earned and interest expended, grew 19% yoy to Rs 833 crore in the quarter ended September 2014, Indusind Bank said in a statement.
Analysts on an average had expected profit of Rs 421 crore on net interest income of Rs 832 crore for the quarter.
The bank's net non-performing assets (NPA) remained unchanged to 0.33% of advances in the September quarter compared to June quarter of this financial year. Gross NPAs came down to 1.08% from 1.11% during the recently concluded quarter.
The stock opened at Rs 627 and touched a record high of Rs 648 on NSE. A combined 1.41 million shares changed hands on the counter so far on NSE and BSE.
Net interest income, the difference between interest earned and interest expended, grew 19% yoy to Rs 833 crore in the quarter ended September 2014, Indusind Bank said in a statement.
Analysts on an average had expected profit of Rs 421 crore on net interest income of Rs 832 crore for the quarter.
The bank's net non-performing assets (NPA) remained unchanged to 0.33% of advances in the September quarter compared to June quarter of this financial year. Gross NPAs came down to 1.08% from 1.11% during the recently concluded quarter.
The stock opened at Rs 627 and touched a record high of Rs 648 on NSE. A combined 1.41 million shares changed hands on the counter so far on NSE and BSE.