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IndusInd Bank quarterly net profit rises 30.5 percent

Maharashtra,Business/Economy, Thu, 19 Apr 2012 IANS

Mumbai, April 19 (IANS) Private sector IndusInd Bank Thursday reported a 30.5 percent hike in net profit at Rs.223.38 crore during the quarter ended March 31 against Rs.171.16 crore in the like period of the previous financial year.


The total income stood at Rs.1,773 crore during the quarter under review against Rs.1,230.47 crore in the like period of 2010-11, the bank, promoted by the Hindujas, said in a regulatory filing.


Romesh Sobti, managing director and chief executive officer of the bank, said the bank's branches have grown beyond 400 and by March 2014 it will have almost 700 branches.


"We are on our way to have 650-700 branches by March 2014."


The bank has recommended a dividend of Rs.2.20 per equity share.


At the Bombay Stock Exchange, the shares of IndusInd Bank 0.26 percent up to trade at Rs.346.40.


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