IndusInd Bank Q3 net up 30% to Rs 581 crore

Private sector lender IndusInd Bank on Tuesday posted 30 percent increase in net profit to Rs 581.02 crore for the third quarter ended December 31, 2015-16.

PTI| Updated: Jan 12, 2016, 16:26 PM IST

Mumbai: Private sector lender IndusInd Bank on Tuesday posted 30 percent increase in net profit to Rs 581.02 crore for the third quarter ended December 31, 2015-16.

The bank had recorded net profit of Rs 447.19 crore in the October-December quarter last fiscal, IndusInd Bank said in a statement. The total income of the lender also increased to Rs 3,766.7 crore during the quarter under review, as against Rs 3,085.9 crore over the corresponding period of 2014-15.

During the third quarter of the current fiscal, the gross Non-performing Assets (NPAs) of IndusInd Bank decreased to 0.82 percent of the total advances, from 1.05 percent at the end of third quarter of 2014-15. However, net NPAs of the bank rose to 0.33 percent from 0.32 percent of the total assets.