IndusInd Bank Q2 net up 25%

IndusInd Bank's Q2 net profit up 25%

Private sector lender IndusInd Bank reported 25 percent year on year (YoY) increase in its September quarter net profit at Rs 880.1 crore against Rs 704.3 crore during the same quarter last year.

Net profit rose to Rs 880 crore or Rs 14.54 per share from Rs 704 crore or Rs 11.69 per share previous year.

Gross bad loans as a percentage of total loans stood at 1.08 percent in the September quarter, compared with 1.09 percent in the June quarter and 0.90 percent a year earlier.

Announcing the bank's results on Thursday, MD & CEO Romesh Sobti, said that saving deposits grew by 95% y-o-y from Rs 20,567 crore in September 2016 to Rs 40,157 crore in September 2017.

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