IndusInd Bank Q3 net profit rises by 5% to Rs 985 crore

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The gross non-performing assets (NPAs) declined to 1.13 per cent of the total advances during the third quarter of the current fiscal

Private sector lender IndusInd Bank Wednesday posted a marginal 5.2 per cent increase in net profit to Rs 985.03 crore for the third quarter ended December 31, 2018. The bank had recorded a net profit of Rs 936.25 crore in the October-December quarter of last fiscal.

Total income of the lender also increased to Rs 7,232.32 crore during the October-December 2018 as against Rs 5,473.54 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a regulatory filing.

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The gross non-performing assets (NPAs) declined to 1.13 per cent of the total advances during the third quarter of the current fiscal, against 1.16 per cent at the end of third quarter.

However, net NPAs of the bank rose to 0.59 per cent in the quarter from 0.46 per cent of the total assets.

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