IndusInd Bank reports net profit of Rs 21.40 cr in the Mar'07

Mumbai, May 25 (UNI) IndusInd Bank, whose balancesheet for first time crossed a size of Rs 20,000 crore, has posted a net profit of Rs 21.40 crore during the quarter ended March 31'07 as against a loss of Rs 62.40 crore in the corresponding period last year.

Announcing the bank's results for the quarter as well as financial year 2007, bank's managing Director and CEO Bhaskar Ghose has attributed the bank's performance to the remarkable rise in the bank's deposit, advances as well as expansion of the bank's branch network.

As per the bank's results, total operating income rose 35.56 per cent to Rs 426.52 crore in the quarter ended March 2007 as against Rs 314.64 crore during the previous quarter ended March 2006.

For the full year, net profit rose 85.28 per cent to Rs 68.22 crore in the year ended March 2007 as against Rs 36.82 crore during the previous year ended March 2006. Total operating income rose 26.25 per cent to Rs 1500.26 crore in the year ended March 2007 as against Rs 1188.29 crore during the previous year ended March 2006.

The bank's networth also surpassed the Rs 1000 crore mark first time since inception.

Responding to a question, Mr Ghose said that the bank may raise capital this year by way of subordinated debt and have no plans of fresh infusion of funds.

UNI