IndusInd Bank recorded a net profit of ₹2,298 crore for the third quarter ended December 31, up 17.3% from the previous year.
According to Reuters, the lender outperformed Q3 profit projections thanks to robust loan growth.
According to the study, the bank’s loan disbursements increased 20% year on year, while deposits increased by 13%.
The company’s net interest margin, defined as the percentage difference between interest earned on loans and interest paid on deposits, increased to 4.29% from 4.27% a year earlier and remained steady from the preceding quarter.
The lender’s overall income increased to ₹13,968 crore in the current quarter, up from ₹11,534 crore the previous year, according to PTI.
Gross Non-Performing Assets (NPAs) fell to 1.92 percent of total loans in the third quarter of the current fiscal year, compared to 2.06 percent in the same period last year.
The bank’s net NPAs also fell to 0.57 percent of total assets in the most recent December quarter, down from 0.62 percent previously.
On Thursday, IndusInd Bank shares finished 1.82 percent down at ₹1,613.15 on the Bombay Stock Exchange. The lender’s shares reached a 52-week high of ₹1,694 on January 15.
The shares began at ₹1,636 as the Sensex fell by 400 points in a single day following the worst drop in 19 months.
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