IndusInd Bank Profit Rises 5% In December Quarter

IndusInd Bank reported a 5.2 per cent rise in third-quarter profit on Wednesday, helped by higher interest income. Net profit was Rs 985 crore ($139.65 million) for the quarter ended December 31, compared with Rs 936 crore a year earlier, the bank said. Interest earned rose 34.4 per cent to Rs 5,763 crore.

Gross bad loans as a percentage of total loans stood at 1.13 per cent at the end of December, compared with 1.09 per cent in the previous quarter and 1.16 per cent a year earlier.

Shares in the private sector lender gained 1.39 per cent to close at Rs. 1,599 apiece on the NSE, whose benchmark index Nifty closed 53 points higher at 10,855. 

($1 = Rs 70.53)