IndusInd Q1 net up 42 on core income growth

The Hinduja Group-promoted IndusInd Bank today registered a 42 per cent jump in its net profit to Rs 334.84 crore in the first quarter of the current financial year driven by a healthy rise in the core income.

Net profit of the private sector bank stood at Rs 236.26 crore during the same period last fiscal. Total income rose 22 per cent to Rs 2,382.81 crore against Rs 1,950.82 crore in the same period previous fiscal.

Our rise in net profit was due to a sound rise in core income coupled with fee-based income. Our asset quality also remains stable, managing director and chief executive Romesh Sobti said here.

The bank,however,saw a marginal increase in bad loans. Shares of the bank dropped 1.25 per cent to close at Rs 495.70 on the BSE.