IndusInd Bank Wednesday reported a drop of over 62 per cent in March quarter net profit at Rs 360.10 crore.<\/p>\n
Net profit in the same quarter of 2017-18 financial year stood at Rs 953.09 crore.<\/p>\n
But, total income for the latest quarter increase to Rs 7,550.43 crore as against Rs 5,858.62 crore in the same period a year ago, the bank said in a regulatory filing.<\/p>\n
For the entire 2018-19, the profit was dropped 8 per cent to Rs 3,301 crore as against Rs 3,606 crore in 2017-18.<\/p>\n
Total income during the last fiscal rose to Rs 27,907.87 crore from Rs 22,030.85 crore a year ago.<\/p>\n
The bank’s gross non-performing assets (NPA) was up 2.10 per cent of gross advances as at March-end 2019 as against 1.17 per cent by the end of the previous fiscal.<\/p>\n
Net NPAs or bad loans were 1.21 per cent, higher than 0.51 per cent at the end of March 2018.<\/p>\n
In value terms, gross NPAs stood at Rs 3,947.41 crore by the end of 2018-19 as against Rs 1,704.91 crore by March-end 2018. Net NPAs were at Rs 2,248.28 crore, up from Rs 745.67 crore a year ago.<\/p>\n
Advances to various companies and special purpose vehicles to a group in infrastructure sector was calculated at Rs 3,004 crore (exposure to holding company of Rs 2,000 crore and operating companies\/SPVs Rs 1,004 crore) were classified as ‘non-performing – sub standard’.<\/p>\n
The private sector lender said it has provided for, in excess of prudential norms on income recognition, asset classification and provisioning to the advances under this account.<\/p>\n
The bank’s board has suggested a dividend of Rs 7.50 per equity share for 2018-19, it said.<\/p>\n
Stock of the bank traded 1.77 per cent down at Rs 1,421.95 on BSE.<\/p>\n","protected":false},"excerpt":{"rendered":"
IndusInd Bank Wednesday reported a drop of over 62 per cent in March quarter net profit at Rs 360.10 crore. Net profit in the same quarter of 2017-18 financial year stood at Rs 953.09 crore. But, total income for the latest quarter increase to Rs 7,550.43 crore as against Rs 5,858.62 crore in the same […]<\/p>\n","protected":false},"author":1,"featured_media":5241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[2234,3922,3923],"class_list":["post-5240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-company-results","tag-induslnd-bank","tag-poor-asset-quality"],"aioseo_notices":[],"yoast_head":"\n