IndusInd Bank share: Its stock has gained 10 percent this week.
Profit doubled to Rs 876 crore.
Private sector IndusInd Bank on Friday announced the results for the March quarter. Its profit doubled to Rs 876 crore during the last quarter of the financial year 2020-21. The private sector bank said that its net profit during the last quarter of 2019-20 was Rs 301.84 crore. The bank has also announced a dividend. In such a situation, there are chances of earning in this stock on Monday.
The bank told the stock market that its total income increased slightly to Rs 9,199.48 crore in the reporting period, from Rs 9,158.57 crore in the same period of the previous financial year. The bank said that its net profit declined by 36 per cent to Rs 2,836.39 crore during the financial year 2020-21, from Rs 4,417.91 crore during the previous financial year. Income was Rs 35,558.41 crore during the last financial year. The gross NPA of the bank increased marginally to 2.67 per cent as on 31 March 2021, from 2.45 per cent as on March 2020.
Dividend of Rs 5 per share
The board of IndusInd Bank has approved a dividend of Rs 5 per share. The bank made 23.5 per cent less provisioning in the March quarter and stood at Rs 1865 crore. It was Rs 2,440 crore in the March 2020 quarter. Here the gross NPA has gone up and it was 2.67 per cent in the fourth quarter, which was 1.74 per cent in the December quarter.
How has the stock been performing
This week the stock of the bank closed at Rs 935 level. This week saw a 10 per cent rise in its stock. Before that, it had closed for three consecutive weeks. It has been declining continuously for the last two months. It registered a decline of 2.04 percent in April and 10.21 percent in March. In one year, this company has given a return of 100 percent.
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