Bouyed by high fee based income and operating income, private sector lender IndusInd Bank

RELATED ARTICLES Bank loans to industry grows 24.3% in FY12

reported a 45 per cent rise in net profit at Rs 193.09 crore for the second quarter ended September 30, 2011 compared to Rs 133.15 crore in the same quarter of last year.

Net Interest Income (NII) was Rs 419.19 crore for July-September 2011 as compared to Rs 329.73 crore in the corresponding quarter of the previous year, registering a robust growth of 27.13 per cent. Core fee income was up by 30 per cent at Rs 211.87 crore for July-September 2011 compared to Rs 163.14 crore for July-September 2010.

Total income of the bank rose to Rs 1563.07 crore during the second quarter of 2011 compared to Rs 1029.2 crore in the corresponding period of last year.

Banks advances grew by 29 per cent while deposits gr­e­w by 23 per cent year-on-year for the second quarter of the present financial year. NIM stood at 3.35 per cent fo­r the second quarter of FY 12 compared to 3.41 per ce­nt in same quarter of FY 11.

Net non-performing assets of the bank fell to 0.31 per cent for Q2FY12 compared to 0.36 per cent for Q2 FY11. Romesh Sobti managing director and chief executive officer IndusInd Bank said, “The bank has shown improved performance under all parameters despite a challenging operating environment. This improvement is driven by higher net interest income as well as increase in fee income.