IndusInd Bank Q2 net profit up 30%

Agencies : Mumbai, Wed Oct 10 2012, 18:57 hrs

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Private sector lender IndusInd Bank today posted 30 per cent increase in net profit at Rs 250.25 crore for the second quarter ended September 30.

The bank had recorded a net profit of Rs 193.09 crore in the corresponding quarter last fiscal, IndusInd Bank said in a filing on the BSE.

The total income of the lender also increased to Rs 2,048.42 crore during the quarter from Rs 1,563.07 crore over the corresponding period last year.

However, the Net Interest Margin (NIM) for the current quarter declined to 3.25 per cent as against 3.35 per cent in the corresponding quarter of the previous year.

During the first half of 2012-13, the bank clocked 30 per cent rise in net profit to Rs 486.51 crore compared to Rs 373.27 crore in the same period a year ago.

The bank reported a total income of Rs 3,999.24 crore in the first six months, compared to Rs 2,943.05 crore in the previous financial year.

Net Interest Income (NII) of the bank rose by 23 per cent to Rs 993.83 crore as compared to Rs 809.20 crore in the corresponding first half of the previous year.

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