Q4 results push up IndusInd Bank

DALAL STREET SPIKES

IndusInd Bank was in the limelight on Tuesday, gaining nearly 3.5 per cent after the bank announced its Q4 results.

After hitting a day's high of Rs 58.90, the stock closed at Rs 57.90 on the back of strong volumes of 14.88 lakh shares. The counter witnessed volumes of over 19 lakh shares at the NSE.

For the forth quarter ended 31 March 2004, the private sector bank said its net profit zoomed to Rs 48.73 crore from Rs 3.66 crore in same quarter last year.

Total income edged up by 10.4 per cent to Rs 320.35 crore (Rs 290.11 crore). The bank has declared a dividend of 17.5 per cent for financial year 2004 and a special dividend of 5 per cent on the occasion of its 10th anniversary.