Private sector lender IndusInd Bank reported in-line earnings for the quarter ending December 31, 2014.
IndusInd Bank's net profit jumped 29 per cent year-on-year to Rs 447 crore supported by higher other income and lower provisioning. Analysts polled by NDTV had estimated IndusInd Bank to report a net profit of Rs 446 crore.
Net interest income, which is interest earned over interest expended, grew by 18 per cent y-o-y to Rs 861 crore in the three months to December, which compares with estimates of Rs 889 crore.
IndusInd Bank had reported a net interest income of Rs 730 crore in the same period last fiscal.
Other income or non-interest income grew by a robust 27 per cent y-o-y in Q3 to Rs 611 crore, which boosted IndusInd Bank's net profit.
IndusInd Bank's provisioning for bad loans in the October-December quarter stood at Rs 98 crore as against Rs 126 crore in the same period last fiscal.
Gross non-performing assets (NPA) stood at 1.05 per cent of advances against 1.08 per cent in the last quarter, IndusInd Bank said.
As of 2.25 p.m. shares in IndusInd Bank traded flat at Rs 829.90 apiece in a lacklustre market.