MUMBAI: Private sector lender IndusInd Bank on Tuesday reported a 30% rise in net profit at Rs 2,124 crore in the quarter ended June, helped by strong growth in interest income. Net interest income, the difference between interest earned and interest paid, grew 18% to Rs 4,867.11 crore compared with Rs 4,125.20 crore in the same quarter last year.
Net interest margin for the quarter stood at 4.29% against 4.21% for the same quarter last year. Other income rose 14% to Rs 2,210 crore for the quarter ended June 30 as against Rs 1,932 crore for the corresponding quarter of the previous year.
The asset quality of the bank remained stable during the quarter. Gross non-performing assets were at 1.94% of gross advances as on June 30, 2023, as compared to 1.98% as of March 31, 2023. Net NPA were 0.58% of net advances as on June 30, 2023, as compared to 0.59 per cent as of March 31, 2023.