NEW DELHI: Private lender IndusInd Bank on Thursday reported a 24.96 per cent YoY surge in net profit at Rs 880.10 crore for the September quarter, which was in line with Rs 890 crore estimated by analysts in an ET Now poll.

The lender had reported a net profit of Rs 704.26 crore in the corresponding quarter last year.

Interest earned for the quarter rose 20.73 per cent YoY to Rs 4,208.35 crore from Rs 3,485.73 crore in the same quarter last year.

Gross non-performing assets (NPAs) for the quarter remained unchanged at 1.08 per cent, compared with June quarter and 0.90 per cent in the year-ago quarter. Net NPA for the quarter stood at 0.44 per cent, same as it was in previous quarter.

The lender said that the proposed transaction with Bharat Financial Inclusion was still under evaluation.

The bank in September signed an exclusivity agreement with the India's second-largest microfinance company for a possible acquisition.

During the quarter, the lender made provisions and contigencies worth Rs 293.75 rore, which was less than June quarter's Rs 309.97 crore, but higher than Rs 213.88 crore provisions it made in the year-ago quarter.

Net interest income (NII) for the quarter stood at Rs 1,821 crore, which was 24.7 per cent higher than Rs 1,460 crore reported in the same quarter last year. ET NOW poll had forecast NII at Rs 1,847 crore.

Brokerage Kotak Securities had expected the lender to report a 26.8 per cent YoY rise in net-interest income for the lender at Rs 1,851.50 crore for the September quarter.