Jan 11, 2017

IndusInd Bank Shares Surge 6% On Strong Q3

IndusInd Bank yesterday reported a 29 per cent surge in its December quarter net at Rs. 750.64 crore, claiming that it was not impacted adversely by the demonetisation move.

New Delhi: Shares of IndusInd Bank today rose 6 per cent after the company reported a 29 per cent surge in its December quarter net profit. 
The stock opened on a positive note and jumped further by 5.93 per cent to Rs. 1,230.80 on BSE. On NSE, it surged 6 per cent to Rs. 1,231.30. 

Mid-sized private sector lender IndusInd Bank yesterday reported a 29 per cent surge in its December quarter net at Rs. 750.64 crore, claiming that it was not impacted adversely by the demonetisation move. 

The lender had posted a net profit of Rs. 581.02 crore in the October-December period last year. 

Its Managing Director Ramesh Sobti attributed the profit jump to a 35 per cent growth in the core net interest income at Rs. 1,578 crore which grew on a faster decrease in cost of funds.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) - NDTV

 

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