IndusInd Bank share jumps nearly 4% after June quarter earnings

New Delhi: Shares of IndusInd Bank climbed nearly 4 per cent on Wednesday morning after the company reported a 30 per cent jump in its consolidated net profit in the April-June quarter.

The stock gained 3.81 per cent to hit its 52-week high of Rs 1,443.35 on the BSE.

At the NSE, it jumped 3.82 per cent to reach its 52-week high of Rs 1,443.40.

In the equity market, the 30-share BSE Sensex climbed 321.91 points to reach its new all-time intraday peak of 67,117.05 in morning trade. The NSE Nifty gained 92.4 points to hit a record intraday high of 19,841.65.

IndusInd Bank on Tuesday reported a 30 per cent jump in its consolidated net profit in the April-June quarter at Rs 2,124.50 crore, helped by core income growth and lower bad loan provisions.

In the reporting quarter, the bank's core net interest income grew 18 per cent to Rs 4,867 crore on a 22 per cent increase in advances and a 0.08 per cent expansion in the net interest margin to 4.29 per cent.

The other income was up 14 per cent to Rs 2,210 crore, while the overall deposits rose 15 per cent.

The overall provisions reduced to Rs 991 crore -- the best in three years, as compared to Rs 1,251 crore in the year-ago period.

On the asset quality front, the gross non-performing assets ratio improved to 1.94 per cent, as against 2.35 per cent in the year-ago period and 1.98 per cent in the March quarter.