IndusInd Bank Q2 Net Profit at Rs. 77.82 Cr, up by 131%; H1 Net Profit up by 211%
Mumbai, October 14, 2009: The Board of Directors of IndusInd Bank Ltd., today approved and adopted its Unaudited Financial Results for the second quarter and first half-year ended September 30, 2009. IndusInd Bank Q2 Net Profit at Rs. 77.82 Cr, up by 131%; H1 Net Profit up by 211% ; Operating Profit doubles at Rs. 155.32 cr; NPA goes down below 1%
Performance highlights for the quarter ended September 30, 2009 are:
Net Profit for the quarter was Rs 77.82 crores as against Rs 33.66 crores in the corresponding quarter of the previous year, which has more than doubled showing a growth of 131%
Net Interest Income (NII) was Rs 208.55 crores as compared to Rs 105.24 crores in the corresponding quarter of the previous year, registering a robust growth of 98%
Operating Profit for the quarter was Rs 155.32 crores as against Rs 67.09 crores in the corresponding quarter of the previous year, which has also been doubled showing a growth of 132%
Net Interest Margin (NIM) for the current quarter was 2.86% as against 1.68% in the corresponding quarter of the previous year.
Capital Adequacy Ratio as on September 30, 2009 was 13.51% as against 12.45% at the end of September 30, 2008. CRAR as per Basel II works out to 14.91%. The Bank successfully concluded its first Qualified Institutional Placement (QIP) offering of US$ 100 million that further boosted the Capital Adequacy Ratio. The issue received very strong response from long term investors on opening on 11th of August, 2009 and was swiftly over-subscribed. Tier I CAR was up by about 181 basis points at 9.63% as compared to 7.82% in Q2 previous year.
Core Fee Income grew by 44%
CASA Ratio improved from 17.94 % to 21.22% YoY.
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(This is a press release from IndusInd Bank)
