Net profit of IndusInd Bank Ltd. for the quarter ended March 31, 2014, was Rs. 396.05 crores as against Rs. 307.40 crores in the corresponding quarter of the previous year, showing a strong growth of 29 per cent. Operating profit was Rs. 719.08 crores (Rs. 543.45 crores) up by 32 per cent, while net interest income was Rs. 781.21 crores (Rs. 661.23 crores), up eight per cent.
Total non-interest income was Rs. 522.92 crores as compared to Rs. 367.89 crores, showing a growth of 42 per cent. Total revenue improved to Rs. 1,304.13 crores from Rs. 1,029.12 crores.
The bank’s net profit for the year ended March 31, 2014 stood at Rs. 1,408.02 crores (Rs. 1,061.18 crores), recording a jump of 33 per cent. Operating profit was Rs. 2,595.96 crores (Rs. 1,839.46 crores), net interest income at Rs. 2,890.71 crores (Rs. 2,232.86 crores), and total non-interest income at Rs. 1,890.53 crores (Rs. 1,362.96 crores).
Commenting on the performance, Mr. Romesh Sobti, Managing Director & CEO, IndusInd Bank, said: “The Bank has yet again reaffirmed its position as a consistent performer and has delivered a healthy net profit growth of 29 per cent for the Q4 FY14 and 33 per cent Y-o-Y respectively. The NIM stands at 3.75 per cent, and core fee income has grown by 28 per cent as compared to Q4 FY13. This year was a milestone as the bank completed 20 years of operations in the country. The bank’s strategy of responsive banking and offering universal solutions to customers across the country over the past years, has enabled the bank to post encouraging numbers sequentially as well as Y-o-Y in the backdrop of challenging operating environment.”