Mumbai, June 30: IndusInd Bank has posted a 29 per cent rise in net profit at Rs 62.91 crore during the fourth quarter ended March 31 compared with Rs 48.73 crore in the corresponding previous quarter.

However, the bank’s trading profit on sale of investments took a substantial hit. IndusInd Bank, which had once reported a trading profit on sale of investments at Rs 600 crore, saw it drop to Rs 226 crore in 2003-04. The trading profit had come down further to Rs 51 crore in 2004-05.

MD Bhaskar Ghose said the bank had moved government securities from the available-for-sale category to held-to-maturity. Hence, the Rs 51-crore trading profit was wiped out as it had to provide for depreciation.

Last year, the bank’s earnings fell 20 per cent to Rs 210.15 crore (Rs 262.07 crore).