India's IndusInd Bank Q3 net profit jumps 25 pct

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Net profit climbed to 9.36 billion rupees ($146.87 million) in the quarter ended December 31, from 7.51 billion rupees a year ago, the country's sixth-largest private sector lender by assets said.

"The highlight of the quarter really was balance sheet crossed Rs. 2 lakh crore for the first time", said Romesh Sobti, MD & CEO IndusInd Bank, during the post-earnings media interaction.

Provisions for the quarter rose by 9 per cent yoy and declined 19 per cent qoq to Rs. 236 crore in Q3FY18.

Net interest income (NII), or the core income a bank earns by giving loans, increased 20.04% to Rs1,894.81 crore versus Rs1,578.42 crore previous year. "All vectors for both topline and bottom line have progressed as per plan".

The total income stood at INR 5,473.54 crore for the quarter ended 31 December 2017.

The bank maintained its net interest margin at 4 per cent level even as the share of high-margin retail loans grew to 24 per cent during the reporting quarter.

Gross non-performing assets (NPAs) rose to 1.16 per cent of total advance at the end of December quarter from 1.08 per cent in September quarter.

Net Interest Margin (NIM) remained subdued in Q3FY18 to 3.99%, compared to 4% each witnessed in Q3FY17 and Q2FY18 respectively.

On BFIL, IndusInd mentioned that the scheme is subject to the approval of the Reserve Bank of India (RBI), the Competition Commission of India (CCI), the Sebi, the respective shareholders of the bank and BFIL and lastly the National Company Law Tribunal (NCLT).

The non-interest income for the quarter grew by 17 per cent to Rs 1,186.76 crore as compared to Rs 1,016.80 crore during Q3 of 2016-17.