Indusind Bank Share Today: Net interest income rose 44.62 per cent on a yearly basis
IndusInd Bank stock has hit the upper circuit after the bank posted a profit at Rs 301.84 crore in the March quarter, a decline of 76.8 per cent compared to the previous quarter's Rs 1,300.2 crore. On a year-on-year basis, the profits declined by 16.18 per cent. At 9:30 am, the shares of the private sector lender IndusInd Bank were locked in the upper circuit of 10 per cent at Rs 448.
IndusInd Bank's net interest income (NII) increased 44.62 per cent on a yearly basis to Rs 3,211.19 crore. The bank's total provisions rose 56 per cent to Rs 2,440 crore in the March quarter. The bank made a provision of Rs 260 crore in view of the lockdown and the time required for return of normalcy.
As on March 31, 2020, IndusInd Bank has 1911 branches and banking outlets, and 2,760 ATMs across the country.
IndusInd Bank shares had closed up 6.4 per cent in Mondays trading session ahead of the quarterly results.
The BSE Sensex was trading higher by 164 points and the Nifty had added 49 points at the time.
