Wednesday, January 11, 2017

Despite note ban blues, Indusind bank reports good numbers

IndusInd Bank, the first bank to announce third-quarter numbers, though put the note ban concerns to rest and continued to post healthy loan growth, margins and asset quality. Its net profit grew 29 per cent, year on year, to Rs 751 crore and was slightly above the consensus estimate of Rs 725 crore. This is as compared to Rs. 581 cr for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 3838 cr for the quarter ended December 31, 2015 to Rs. 4716 cr for the quarter ended December 31, 2016.

The stock was marginally up in yesterday's trading and closed at Rs 1162.

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