IndusInd Bank Q2 Net Profit at Rs. 77.82 Cr, up by 131%; H1 Net Profit up by 211%
Performance highlights for the 6-month period ended Sept 30, 2009 are:
Net Profit for the half year period ended September 30, 2009 was Rs 164.32 crores as against Rs 52.76 crores in the corresponding period of the previous year, up 211%.
Net Interest Income (NII) was Rs. 375.92 crores as compared to Rs 198.18 crores in the corresponding period of the previous year, up 90%.
Operating Profit for the half year period ended September 30, 2009 was Rs 329.63 crores as against Rs 112.96 crores in the corresponding period of the previous year, up 192%.
The CASA (Current Accounts-Savings Accounts) ratio improved to 21.22% against 17.94 %.
As on September 30, 2009 the total Advances were at Rs 17583 crores and total Deposits were at Rs 22815 crores, showing a YOY growth of 25% and 17% respectively
Gross NPA in current Q2 has dropped to Rs 265.11 crores (1.50%) from Rs 424.54 crores (3.00% ) in previous year Q2. The net NPA too has fallen to Rs 171.77 crores at 0.98% in current Q2 as against Rs 310.64 crores at 2.21% in the previous Q2.
Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “IndusInd Bank has maintained its growth momentum and more than doubled its Net Profit and doubled its Operating Profit in Q2. We are firmly saddled on a growth trajectory with positive contributions flowing in from all functional areas. The Bank’s Net Interest Margin has reached a high of 2.86%, while the non-performing assets have declined below 1%. During the quarter, the Bank’s QIP issue received a very strong response from investors and the funds received will help in meeting the growth aspirations.”
<< GO BACK TO FIRST PAGE
(This is a press release from IndusInd Bank)
