IndusInd Bank reports 37% rise in Q1 profit

IndusInd-BankIndusInd Bank said on Friday that it has witnessed a 37 per cent growth in its profit. This is for the first quarter of this year ending June 30. In real terms, the profit was of Rs.118.55 crore.

As per the financial declared by the private bank, the total income during the period increased from Rs 801.58 crore that it reported last year to become Rs 801.58 crore during the first quarter.

Income earned from interest was Rs 771.54 crore. This is 23 per cent higher than during the same period last year.

Expenditure due to interest was also up and it became Rs 475.86 crore that is 3 per cent higher. Revenue earned from banking corporate operations was Rs 323 crore, 28 per cent higher than last year. Retail banking segment saw a rise of 22 per cent to become Rs 511 crore.

For the same June quarter, treasury income was down by 10%, to become Rs 215 crore.

The bank is being promoted by the Hinduja group and is considered to be one of the fastest growing private banks in India.

The share price of the bank went up by 3.52 per cent to become Rs 210.95.

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