Private sector lender IndusInd Bank’s net profit grew by 30
percent year-on-year to Rs 250.25 crore in the quarter ended September 2012,
which was slightly higher than expectations of Rs 241 crore.
Net interest income rose by 23.4 percent to Rs 517.37 crore
during the same period, which was almost in line with forecast. Analysts on an
average had expected it at around Rs 514 crore.
Net interest margin increased 3 basis points to 3.25 percent
versus 3.22 percent during the same period.
The bank said the second quarter has been tough overall. The
drop in cost of funds has helped margins, the bank said in a press conference.
Core fee income was up 40% year-on-year to Rs 298 crore in
the September quarter.
Provision coverage ratio in the quarter stood at 72.09
percent. Capital adequacy ratio was flat at 12.85 percent as on September-end
against 12.86 percent in the previous quarter.
Net non performing asset (NPA) rose to 0.29% in the
July-September quarter of 2012 as against 0.27% in the earlier quarter. Gross
NPA increased 6 basis points quarter-on-quarter to 1.03%.
Advances jumped by 30.83% year-on-year while deposits grew
by 24.49%. Cost of deposits fell by 18 basis points quarter-on-quarter.
The bank said cost of credit was lower sequentially.
At 14:39 hours IST, the share fell 2.15 percent to Rs 358.80
amid large volumes.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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