IndusInd Bank has moved higher by 3% at Rs 440, bouncing back over 4% from intra-day low, after reporting 32% year-on-year (yoy) jump in net profit at Rs 330 crore for the quarter ended September 2013 (Q2) earnings on back of strong growth from retail banking segment.
The operating profit of private sector bank increased by 40% at Rs 588 crore on yoy basis, IndusInd Bank said in a statement.
Net interest income (interest earned minus interest expended) grew 37% to Rs 700 crore from Rs 510 crore during the recently concluded quarter.
The bank’s gross NPA (non performing assets) as a percentage of advances have increased marginally to 1.11% from 1.03%, while net NPA declined to 0.22% from 0.29% over the previous year quarter.
The stock opened at Rs 434 and hit a low of Rs 422 in noon deals on the NSE. A combined 6.21 million shares change hands on the counter till 1430 hours on NSE and BSE.
The operating profit of private sector bank increased by 40% at Rs 588 crore on yoy basis, IndusInd Bank said in a statement.
Net interest income (interest earned minus interest expended) grew 37% to Rs 700 crore from Rs 510 crore during the recently concluded quarter.
The bank’s gross NPA (non performing assets) as a percentage of advances have increased marginally to 1.11% from 1.03%, while net NPA declined to 0.22% from 0.29% over the previous year quarter.
The stock opened at Rs 434 and hit a low of Rs 422 in noon deals on the NSE. A combined 6.21 million shares change hands on the counter till 1430 hours on NSE and BSE.
