April 19, 2017 / 9:00 AM / 3 months ago

IndusInd Bank fourth-quarter net profit rises

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FILE PHOTO: A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016.Mukesh Gupta/File photo

REUTERS - IndusInd Bank, India's sixth-biggest private sector lender by assets, reported a 21 percent rise in its fourth-quarter profit on higher interest income, while its bad-loan ratio eased sequentially.

Net profit rose to 7.52 billion rupees ($116.4 million) for the quarter ended March 31, from 6.20 billion rupees a year earlier, the Mumbai-based lender said on Wednesday. (bit.ly/2oreRDQ)

Gross bad loans as a percentage of total loans fell to 0.93 percent at end-March, from 0.94 percent as of end-December.

($1 = 64.5900 Indian rupees)

Reporting by Tanvi Mehta in Bengaluru; Editing by Amrutha Gayathri

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