IndusInd Bank Q2 net rises 52% to Rs 1,401 cr

New Delhi: IndusInd Bank on Thursday reported a jump of 52.2 per cent in consolidated net profit at Rs 1,400.96 crore for September quarter of the ongoing financial year.

The private sector lender had posted a profit of Rs 920.34 crore for July-September period of 2018-19.

Total income during the second quarter of 2019-20 rose to Rs 8,877.53 crore from Rs 6,755.37 crore in the year-ago period.

However, the bank's gross non-performing assets (NPAs) rose to 2.19 per cent of gross advances as on September 30, 2019 from 1.09 per cent by the same period a year ago.

Net NPAs or bad loans were 1.12 per cent, up from 0.48 per cent a year earlier.

The bank's provision for bad loans and contingencies for the September quarter was increased to Rs 737.71 crore, as against Rs 590.27 crore parked aside a year ago.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in