Indusind net falls 80%

New Delhi, July 29 (UNI) Indusind Bank Ltd today posted a drop of 80.15 per cent in its net profit at Rs 8.01 crore for the quarter ended June 30, 2006, as compared to Rs 40.36 crore for the same quarter last year.

However, the bank's total income went up by 11.51 per cent to Rs 390.14 crore in Q1 FY07 as compared to Rs 349.86 crore in Q1 FY06.

Earlier, the bank said it is in initial talks with some strategic investors over a possible sale of a stake in the bank.

A majority holding in IndusInd, equivalent to just over 31 per cent of its equity as of March 31, 2006 is held by The Hinduja Group.

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