IndusInd Bank on Tuesday reported a 32.5% year-on-year (YoY) rise in the net profit for the quarter ended June to Rs 2,124 crore. An ET Now poll estimated the profit at Rs 2,100 crore. Net interest income, the difference between interest earned and interest expended, rose 18% YoY to Rs 4,867 crore. The banks operating profit, before provisions and contingencies, grew 13% YoY to Rs 3,830 crore.
IndusInd Bank: Antique Stock Broking, which has upped target on IndusInd Bank to Rs 1,600 from Rs 1,525, said return on asset of 1.8 per cent has sustained for three straight quarters despite a relatively higher credit cost
Shares of IndusInd Bank climbed nearly 4 per cent on Wednesday morning after the company reported a 30 per cent jump in its consolidated net profit in the April-June quarter.