IndusInd Bank Q2 net profit up 5%

Mumbai: The IndusInd Bank on Monday reported a 5 per cent increase in net profit for the second quarter (Q2) of 2018-19.

Its net profit during the quarter under review rose to Rs 920 crore from Rs 880 crore reported for the corresponding period of last fiscal.

“Net profit for the quarter is Rs 920 crore as against Rs 880 crore in the corresponding quarter of the previous year, showing a growth of 5 per cent,” the bank said in a statement.

“Net profit for the quarter excluding one-off contingent provision is Rs 1,096 crore, showing a growth of 25 per cent year on year.”

The bank said that its net interest income (NII) for the said quarter grew by 21 per cent to Rs 2,203 crore from Rs 1,821 crore earned during the corresponding quarter of the previous year.

According to the lender, its net NPA (non-performing asset) as on September 30, 2018 was at 0.48 per cent as against 0.44 per cent on September 30, 2017.