Latest News | IndusInd Bank Shares Jump 3 Pc After Earnings Announcement

New Delhi, Oct 28 (PTI) Shares of IndusInd Bank on Thursday jumped nearly 3 per cent after the company reported a 73 per cent rise in consolidated net profit for the second quarter ended September.

After opening the trade in green, the stock further gained 8.75 per cent to its 52-week high of Rs 1,241.85 during the day on BSE. It closed at Rs 1,175.45, a gain of 2.94 per cent.

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On NSE, it jumped 2.92 per cent to settle at Rs 1,176.

IndusInd Bank topped the gainers' chart on both the benchmark indices.

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In volume terms, 5.85 lakh shares were traded on BSE and 1.72 crore on NSE.

The private sector lender on Wednesday reported a 73 per cent rise in its consolidated net profit to Rs 1,146.73 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs 663.08 crore in the year-ago period.

Total income during the July-September quarter rose to Rs 9,488.06 crore from Rs 8,731.52 crore a year ago, IndusInd Bank said in a regulatory filing.

Interest income moved up at Rs 7,650.36 crore from Rs 7,177.21 crore.

On a standalone basis, the net profit increased by 72 per cent to Rs 1,113.53 crore from Rs 647.04 crore. Total income in the latest September quarter rose to Rs 9,487.56 crore as against Rs 8,731.05 crore in the year-ago period.

The bank's provisions for bad loans and contingencies fell to Rs 1,703.36 crore for the reported quarter from Rs 1,964.44 crore reserved for the year-ago period.

(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)