Latest News | IndusInd Bank Shares Climb over 4 Pc

New Delhi, May 2 (PTI) Shares of IndusInd Bank on Monday climbed over 4 per cent after the company reported over 50 per cent rise in consolidated net profit in the March 2022 quarter.

It jumped 4.17 per cent to settle at Rs 1,019 apiece on the BSE. During the day, the stock rallied 4.88 per cent to Rs 1,025.95.

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On the NSE, it gained 4.04 per cent to Rs 1,018.10.

It was the biggest gainer among the Sensex and Nifty components.

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On Friday, IndusInd Bank posted a 51 per cent jump in consolidated net profit to Rs 1,401 crore in the March 2022 quarter, mainly due to lower provisioning.

The private sector lender's post-tax profit was Rs 4,805 crore for fiscal 2021-22, up from Rs 2,930 crore in the year-ago period.

The core net interest income rose 13 per cent to Rs 3,985 crore on a slight expansion in the Net Interest Margin (NIM) to 4.20 per cent and a 12 per cent jump in advances. The other income grew 7 per cent to Rs 1,905 crore.

IndusInd's gross non-performing assets ratio declined to 2.27 per cent as of March 31, 2022, against 2.67 per cent at the March-end 2021.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)