Financial Daily from THE HINDU group of publications
Friday, Jul 01, 2005
Financial Daily from THE HINDU group of publications Friday, Jul 01, 2005 |
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Corporate Results
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Private Banks Money & Banking - Financial Performance IndusInd Bank Q4 net up 29 pc Our Bureau
Mr Bhaskar Ghose
Mumbai , June 30 INDUSIND Bank has reported a 19.67-per cent drop in net profit for the financial year 2004-05, mainly due to fall in treasury income. Net profit for the fiscal was Rs 210.15 crore as against Rs 262.07 crore in the previous year. Total income was at Rs 1,385.15 crore (Rs 1,331.08 crore), while net interest income was at Rs 415.51 crore (Rs 316.9 crore). The bank has recommended a dividend of Rs 1.8 per share of face value of Rs 10. For the quarter ended March 31, 2005, the bank reported an increase of 29.08 per cent in net profit, at Rs 62.91 crore against Rs 48.73 crore in the corresponding quarter last year. Total income was at Rs 373.03 crore (Rs 320.35 crore), while net interest income was at Rs 123.15 crore (Rs 69.35 crore). Speaking to media persons, Mr Bhaskar Ghose, Managing Director, said the fall in profit this year was due to the fall in income from treasury operations. "We took a hit of Rs 52 crore due to the depreciation of Government securities." Net interest margin for the year was at 2.92 per cent against 2.62 per cent in the earlier year. Capital adequacy ratio was 11.62 per cent (12.75 per cent). The net non-performing asset was at 2.71 per cent (2.72 per cent).
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