IndusInd Bank shares continue to fall; drop further 5 pc


PTI | New Delhi | Updated: 15-01-2020 12:41 IST | Created: 15-01-2020 12:15 IST
IndusInd Bank shares continue to fall; drop further 5 pc
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Shares of IndusInd Bank continued to fall for second consecutive day on Wednesday, dropping nearly 5 percent following a rise in non-performing assets in December quarter. The scrip tanked 4.77 percent to Rs 1,410.40 on the BSE.

On the NSE, it dropped 4.83 percent to Rs 1,410. It was the worst hit among the 30-share BSE index and Nifty-50 components.

In the previous trade also, it had fallen by 4 percent. Private sector lender IndusInd Bank on Tuesday posted a 32 percent rise in net profit to Rs 1,300.20 crore for the December 2019 quarter.

The bank had registered a profit of Rs 985.03 crore in the year-ago period. Its total income during the period under review increased to Rs 9,073.93 crore from Rs 7,232.32 crore in the third quarter of the previous fiscal, IndusInd Bank said in a regulatory filing.

Gross non-performing assets (NPAs) rose to 2.18 percent of the total advances at the end of December quarter of the current financial year as against 1.13 percent by the end of the same period a year ago. Net NPAs increased to 1.05 percent in the quarter from 0.59 percent of the total assets in the year-ago period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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