Riding on robust growth in Net Interest Income (NII) IndusInd Bank has clocked 71 per cent growth in its net profit for the quarter ended September 30, 2010 at Rs 133.15 crore as compared to Rs 77.82 crore in the corresponding period last year.
"The NII of the bank for the second quarter is Rs 329.73 crore as compared to Rs 208.55 crore during the same period last year, with a strong growth of 58 per cent," IndusInd Bank CEO and Managing Director Romesh Sobti told reporters here today.
The profitability momentum can be seen in the rise of Net Interest Margin (NIM) from 2.86 per cent to 3.41 per cent and the core fee income has grown by 34 per cent, Sobti said.
The operating profit for the quarter is grown by 69 per cent at Rs 261.65 crore as against Rs 155.32 crore in the year ago period. Capital Adequacy Ratio has moved up to 16.22 per cent as against 14.91 per cent in the corresponding period.
Gross NPA has dropped to 1.21 per cent as compared to 1.50 per cent during the same period last year while net NPA has diminished to 0.36 per cent from 0.98 per cent.
Net profit for the half year period ended September 30, 2010 has grown by 53 per cent at Rs 251.70 crore as against Rs 164.32 crore. The NII has gone up by 66 per cent at Rs 625.41 crore as compared to Rs 375.92 in the year ago period.
The CASA ratio has also improved to 25.44 per cent from the 21.22 per cent during the same period.
As on September 30, 2010, the total advances are at Rs 23,452 crore and total deposits are at Rs 31,290 crore with a y-o-y growth of 33 per cent and 37 per cent, respectively, Sobti said.
