IndusInd Bank shares fall 2 percent even as profit increases
New Delhi: Shares of IndusInd Bank fell by over 2 per cent today even as the company posted a 24.72 per cent increase in net profit for the quarter ended December 2017.
The stock slipped 2.08 per cent to end at Rs 1,698.60 on BSE. During the day, it dipped 2.75 per cent to Rs 1,687.
The bank's stock was the worst hit among the 30-Sensex bluechips.
On NSE, shares of the company fell by 1.94 per cent to close at Rs 1,700.30.
In terms of equity volume, 1.55 lakh shares of the company were traded on BSE and over 41 lakh shares changed hands on NSE during the day.
Private sector lender IndusInd Bank today posted a 24.72 per cent increase in net profit to Rs 936.25 crore for the quarter ended on December 31, 2017.
The bank had recorded a net profit of Rs 750.64 crore in the October-December quarter of the last fiscal.
Total income of the lender also increased to Rs 5,473.54 crore during the quarter under review, up 16.05 per cent as against Rs 4,716.13 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a BSE filing.
The gross non-performing assets (NPAs) of IndusInd Bank increased to 1.16 per cent of the total advances during the third quarter of the current fiscal, against 0.94 per cent at the end of third quarter of 2016-17.
Net NPAs of the bank rose to 0.46 per cent in the quarter from 0.39 per cent of the total assets.