Indusland bank’s Q3 2015 net profit up by 29% at Rs. 447.19 crores

Indusland bank has announced its third quarter results for the year 2015. Net profit for the third quarter has increased by 29% compare to same quarter of the previous year.

Net profit for the quarter ending 31st December 2014 is Rs. 447.19 crores as against Rs. 346.90 crores. Operating margin is also showing a growth of 20%.

Growth of 29% in net profit is due to the increase in net interest amount of Rs. 2436.95 crores in comparison to Rs. 2143.49 crores of quarter ending 31st December 2013.

Net Interest Income was Rs. 2,495.14 crores as compared to Rs. 2,109.50 crores in the corresponding period of the previous year, up 18%.

Net NPA for the Q3 2015 stood at 0.32% compare to 0.33% in the June-September quarter and 0.31% during the same quarter of the previous year 2013-2014. Gross NPA in current Q3 stands at as 1.05% compared to 1.18% for the corresponding period of the previous year.

indusland

image source: indusland bank

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, the Bank continued to deliver a good performance against a backdrop of continued economic slowdown. Growth in the bottom line is seen from improved NIM, diversified income streams and active cost management.”

He further added “During this quarter the Bank unveiled new marketing campaign on the latest proposition Video Branch service which was very successful in capturing the imagination of ever-increasing tech savvy customer base.”

Indusland bank has also increased its branch network to 727 branches and 1350 ATMs as on 31st December 2014 in compare to last year’s 573 branches and 1055 ATMs

In comparison to last quarter ending 30th September 2014, we are not seeing much change in net profit and total income.

Comparison of figures for third quarter 2015

Particulars Quarter ended 31.12.2014(unaudited) Quarter ended 30.09.2014(unaudited) Quarter ended 31.12.2013(unaudited)
Total Income 3,047,70 2,937,03 2,623,76
Operating profit 773,84 724,67 647,36
Net Profit 447,19 430,20 346,90
Net NPA (in %) 0.32 0.33 0.31

Indusland bank’s segment wise Revenue comparison – Rs. In lakhs

Particulars Quarter ended 31.12.2014(unaudited) Quarter ended 30.09.2014(unaudited) Quarter ended 31.12.2013(unaudited)
Treasury Operations 727,33 641,75 574,40
Corporate/ Wholesale Banking 981,45 995,27 883,74
Retail Banking 1,614,30 1,583,87 1,432,51
Other Banking Business 6,60 7,05 6,08
Less: Inter segment revenue (281,98) (290,91) (272,97)
Total 3,047,70 2,937,03 2,623,76

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