Private sector lender ING Vysya Bank 's net profit rose higher than expected by
38.3% year-on-year to Rs 130 crore for the quarter ended June 2012.
Net interest income too increased better than expected by
30.91% to Rs 343 crore during the same period.
Analysts on an average had expected net profit at Rs 114
crore and net interest income at Rs 322 crore for the June quarter.
The bank made provisions of Rs 26.7 crore during the
quarter, which were quite high compared to Rs 6.2 crore in a year ago period.
Gross non-performing assets (NPAs) stood at Rs 588 crore as
against Rs 562.9 crore and net NPAs increased to Rs 56.4 crore from Rs 52.5
crore quarter-on-quarter.
Gross NPAs moved up at 1.97% versus 1.92% and net NPAs too
rose to 0.19% versus 0.18% QoQ.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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