IndusInd Bank Q2 net profit at Rs 704 crore; contingencies up 35%

IndusInd Bank’s net profit for the second quarter ended September 30, 2016 (Q2FY17) stood at Rs 704.26 crore, registering growth of 25.75% year-on-year (yoy) basis and 6.48% quarter-on-quarter (qoq).

The bank’s net interest income (NII) stood at Rs 1460.31 crore, rising by 33.44% yoy and 7.65% qoq. 

Net Interest Margin of the bank expanded by 3 basis point to 4% in Q2FY17, compared to 3.97% in the preceding quarter. 

Total income from operations registered at Rs 4439.72 crore, which was also up by 23.96% yoy and 4.10% qoq.

Provisions and contingencies was at Rs 213.88 crore in this quarter, up by 35.29% yoy but down by 7.19% qoq.

Gross non-performing asset during this period stood at 0.90%, expanding by 13 basis points yoy but contracting by 1 basis point qoq.

Total advances of IndusInd Bank was at Rs 98,949.07 crore, witnessing rise of 11.91% yoy and 26.38% qoq.