Indusind Bank Q4 net up 75 % at Rs 171.76 crore

MUMBAI: Private sector lender Indusind Bank today posted a 75.3 per cent increase in its net profit for the fourth quarter ended March 31, 2011 at Rs 171.76 crore.

The bank had recorded a net profit of Rs 97.96 crore in the corresponding quarter last fiscal, Indusind Bank said in a filing to the Bombay Stock Exchange.

The total income of the lender also increased to Rs 1,230.47 crore in the quarter ended March from Rs 852.57 crore over the corresponding period last year.

The bank has recommended a dividend of 20 per cent, or Rs 2, for shares of face value Rs 10 each.

For the entire fiscal ended March 2011, Indusind Bank net profit rose by 64.8 per cent to Rs 577.32 crore, compared to Rs 350.31 crore in the previous fiscal, it said.

The total income during 2010-11 improved by 32 per cent to Rs 4,303.02 crore, against Rs 3,260.47 crore a year ago