IndusInd bank’s Q4 net up 30% to Rs 223 cr

Mumbai: Higher growth in core and fee incomes pushed up private sector IndusInd Bank's March quarter profit by 30 per cent to Rs 223.4 crore against Rs 171.76 crore in the same period a year ago. Total revenues rose around 33 per cent to Rs 756.45 crore in the fourth quarter against Rs 569.71 crore reported in the same period last year. "Despite a challenging quarter, there was an overall improvement in our performance in all parameters. While our net profit and income have increased, there have been a drop in the overall NPA (non-performing asset) level," IndusInd Bank Managing Director and Chief Executive Romesh Sobti told reporters while announcing the fourth quarter result. During the quarter under review, the bank reported a 20 per cent rise in net interest income (NII) to Rs 464.40 crore against Rs 388.08 crore reported a year earlier. Similarly, total non-interest income grew by 61 per cent to Rs 292.05 crore during the period from 181.63 crore reported a year ago. However, there was a drop in the net interest margin (NIM) to 3.29 per cent in the Jan-March period against 3.50 per cent reported a year earlier. On the NPA front, gross NPA dropped to 0.98 per cent from 1.01 per cent and net NPA declined to 0.27 per cent from 0.28 per cent reported a year earlier. The bank has reported a 39 per cent rise in net profit to Rs 802.61 crore in FY12 from Rs 577.32 crore in FY11. Total income during the last financial year grew by 30 per cent to Rs 2,716.03 crore as against Rs 2,090.15 crore reported in the same period last year. Net NPA of the lender for the full fiscal stood at 0.27 per cent compared to 0.28 per cent a year earlier.