IndusInd Bank meets forecast, Q1 net rises 26% to Rs 421 cr

Written By Unknown on Rabu, 09 Juli 2014 | 16.03

Private sector lender IndusInd Bank met street expectations with the net profit in first quarter of current financial year 2014-15 rising 25.7 percent year-on-year to Rs 421 crore supported by stable asset quality and higher other income.

Moneycontrol Bureau

Private sector lender  IndusInd Bank met street expectations with the net profit in first quarter of current financial year 2014-15 rising 25.7 percent year-on-year to Rs 421 crore supported by stable asset quality and higher other income.

Net interest income, the difference between interest earned and interest expended, increased by 17.7 percent on yearly basis to Rs 800 crore and other income (non-interest income) 22.5 percent to Rs 576.4 crore in the quarter gone by.

Loon book of the bank grew at 34 percent and credit growth was at 24 percent, says Romesh Sobti, MD and CEO in a press conference.

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