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IndusInd Bank Q4 net up 21% at Rs 752 cr

IndusInd Bank, Financial Results

Mumbai: Private sector IndusInd Bank’s net profit grew 21.1 per cent to Rs. 751.61 crore for the last quarter ended March of fiscal 2016-17.

The bank had registered a net profit of Rs. 620.35 crore in the corresponding January-March period of the previous fiscal of 2015-16.

The total income of the bank was up 22.4 per cent to Rs. 5,041.31 crore in the fourth quarter of the last fiscal as against Rs. 4,120.16 crore in the similar period a year ago, the bank said in a regulatory filing.

The bank’s gross non-performing assets (NPAs) or bad loans were 0.93 per cent of gross advances as on March 31, 2017, slightly up from 0.87 per cent a year ago.

Net NPAs were 0.39 per cent of the net advances at the end of March, as against 0.36 per cent a year earlier, the bank said.

The bank parked Rs. 430.13 crore towards provision and contingencies during the last quarter, almost double the Rs. 213.66 crore a year ago.

For the full financial year 2016-17, IndusInd Bank reported an increase of 25.4 per cent in its net profit at Rs. 2,867.89 crore as against Rs. 2,286.45 crore.

Likewise, total income during the year grew to Rs. 18,577.16 crore, rising 22.5 per cent from Rs. 15,168.69 crore.

IndusInd Bank said its board has recommended a dividend of Rs. 6 per equity share for 2016-17.

Stock of the bank were trading 0.95 per cent down at Rs. 1,418.20 in the afternoon on BSE.

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