Published: Sun, January 14, 2018
Life&Culture | By Rose Hansen

IndusInd Bank's Q3 net profit up nearly 25%

IndusInd Bank's Q3 net profit up nearly 25%

IndusInd Bank fell 1.37% to Rs 1,711.05 at 14:21 IST on BSE after the bank reported its Q3 December 2017 result during market hours today, 11 January 2018. According to eight Bloomberg analysts' estimates, the bank was expected to post a profit of Rs945 crore.

Total income increased to Rs 1,526.86 crore for the quarter from Rs 1,457.52 crore in the same period a year ago, the bank said in a regulatory filing.

Interestingly, the bank's provision and contingency stood at Rs 236.16 crore in Q3FY18, which was higher from Rs 216.85 crore of Q3FY17 but lower from Rs 293.75 crore of Q2FY18. The floating provision has been considered while computing the net NPAs and provision coverage ratio (PCR).

The total income stood at INR 5,473.54 crore for the quarter ended 31 December 2017.

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Asset quality for the quarter remained stable over the quarter with GNPA's advancing by 8 bps over previous quarter, while on yoy basis 24 bps increase was witnessed. We believe in "responsive innovation" as our central theme. Fee income, too, grew 22 per cent to Rs 1,076.51 crore.

Also, net profit stood at Rs 2,652.90 crores in nine month period of FY18, higher by 25% from Rs 2,116.28 crore in similar period of previous fiscal. IndusInd bank's provisions and contingencies rose to Rs 236.16 crore in the third quarter compared with Rs 216.85 crore in the same period previous year.

At 3.03pm, Indusind Bank shares were trading at Rs1702.75 on BSE, down 1.84% from its previous close while India's benchmark Sensex Index gained 0.13% to 34,477.79 points.

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