IndusInd Bank on Wednesday reported a nearly 69% year-on-year (YoY) rise in net profit for the December quarter at Rs 1,959 crore, which was slightly higher than ET Now poll estimate of Rs 1,950 crore.
Net interest income in the quarter rose 19% YoY to Rs 4,495 crore.
The bottomline was aided by strong loan growth and lower provisions. Provisions and contingencies declined 36% YoY to Rs 1,065 crore.
Asset quality improved further during the quarter as gross non-performing assets as a percentage of total loans was down to 2.06% from 2.48% a year ago and 2.11% a quarter ago.
Net non-performing assets as a percentage of total loans was down at 0.62% from 0.71% a year ago and largely stable on a sequential basis.
More to come...
Net interest income in the quarter rose 19% YoY to Rs 4,495 crore.
The bottomline was aided by strong loan growth and lower provisions. Provisions and contingencies declined 36% YoY to Rs 1,065 crore.
Asset quality improved further during the quarter as gross non-performing assets as a percentage of total loans was down to 2.06% from 2.48% a year ago and 2.11% a quarter ago.
Net non-performing assets as a percentage of total loans was down at 0.62% from 0.71% a year ago and largely stable on a sequential basis.
More to come...
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