IndusInd Q1 profit up 61% at Rs 1.6k cr

Mumbai: IndusInd Bank reported a net profit of Rs 1,631 crore for the June quarter, an increase of 61% over Rs 1,016 crore in the year-ago period. Profits grew on the back of an 18% growth in loans. Advances as of June 30 were Rs 2,47,960 crore as against Rs 2,10,727 crore, an increase of 18% over the previous year. Deposits as on June 30 were Rs 3,02,719 crore as against Rs 2,67,233 crore, a growth of 13% over the previous years.
“Our vehicle and microfinance had the best Q1 disbursements in their history.Consumer and corporate segments maintained steady growth. Retailisation of liabilities continues with 16% growth in CASA (current account, savings account), 17% growth in retail deposits,” said Sumant Kathpalia, MD & CEO, IndusInd Bank.
As of June 30, the bank’s distribution network included 2,286 branches/banking outlets and 2,783 onsite and offsite ATMs, as against 2,015 branches/banking outlets and 2,870 onsite and offsite ATMs in last June. The client base stood at 3.2 crore as on June 30.