The private sector lender had posted a net profit of Rs. 307.40 crore in the same quarter of the previous fiscal year.
Total income of the bank rose to Rs. 2,702.19 crore in the January-March quarter as compared to Rs. 2,190.66 crore in the same period last year, the bank said in a filing to the BSE.
IndusInd Bank has proposed a dividend of 35 per cent, or Rs. 3.50, per share for 2013-2014.
For the entire fiscal year, the bank's net profit grew 32.7 per cent atRs. 1,408.02 crore, from Rs. 1,061.18 crore in 2012-13.
Total income increased to Rs. 10,144.O6 crore during the year, compared to Rs. 8,346.19 crore in the previous fiscal year.
However, gross non-performing assets (NPA) of the bank rose to 1.12 per cent at the end of March 2014 compared to 1.03 per cent in the previous fiscal year.
Shares in IndusInd Bank, on Wednesday, ended at Rs. 487.20 apiece on the BSE, up 0.63 per cent from the previous close.