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MUMBAI: today reported a 190 per cent year-on-year rise in its net profit for the quarter ended March to Rs 876 crore, which was above analysts’ estimates.
The lender reported a net interest income of Rs 3,534.6 crore for the reported quarter, which was also higher than analysts’ estimates of Rs 3,476 crore.
The lender’s asset quality in the quarter, however, deteriorated on a sequential basis. The bank reported gross non-performing assets ratio of 2.67 per cent as against 1.74 per cent in the previous quarter.
IndusInd Bank’s net non-performing assets ratio stood at 0.69 per cent at the end of the March quarter as against 0.22 per cent in the previous quarter.
The bank said that its board has approved a final dividend of Rs 5 per share.
The lender’s bottomline was boosted by a 23.5 per cent year-on-year fall in provisions and contingencies during the quarter to Rs 1,865 crore.
IndusInd Bank said that it has made provisions of Rs 2,208 crore till March 31 on account of the Covid-19 pandemic and the high uncertainty created by the second wave.
Shares of IndusInd Bank ended 0.5 per cent lower at Rs 934.95 on the National Stock Exchange.
The lender reported a net interest income of Rs 3,534.6 crore for the reported quarter, which was also higher than analysts’ estimates of Rs 3,476 crore.
The lender’s asset quality in the quarter, however, deteriorated on a sequential basis. The bank reported gross non-performing assets ratio of 2.67 per cent as against 1.74 per cent in the previous quarter.
IndusInd Bank’s net non-performing assets ratio stood at 0.69 per cent at the end of the March quarter as against 0.22 per cent in the previous quarter.
The bank said that its board has approved a final dividend of Rs 5 per share.
The lender’s bottomline was boosted by a 23.5 per cent year-on-year fall in provisions and contingencies during the quarter to Rs 1,865 crore.
IndusInd Bank said that it has made provisions of Rs 2,208 crore till March 31 on account of the Covid-19 pandemic and the high uncertainty created by the second wave.
Shares of IndusInd Bank ended 0.5 per cent lower at Rs 934.95 on the National Stock Exchange.
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7 Comments on this Story
 | aaaa bbbb2 hours ago What is the date considered for dividend? |
| Amit Sharma15 hours ago Result looks like JUMLA... Why there is no Covid related provision?? |
| KS Mahalingam16 hours ago Last year,all banks were barred from declaring dividend |