IndusInd Bank Q1 results: Net profit surges 112% YoY to Rs 975 crore, beats estimates

MUMBAI: IndusInd Bank today reported a 112 per cent year-on-year rise in net profit to Rs 975 crore for the quarter ended June, which was above analysts’ expectations.

The lender’s total income in the reported quarter rose 7 per cent on-year to Rs 9,356 crore.

The bank’s asset quality saw a marked deterioration in the quarter as gross non-performing assets ratio climbed to 2.88 per cent from 2.67 per cent in the previous quarter. Similarly, the net NPA ratio rose to 0.84 per cent from 0.69 per cent.


IndusInd Bank’s gross NPAs rose 21.3 per cent year-on-year to Rs 6,186 crore. However, provisions in the quarter slumped 18.4 per cent on-year to Rs 1,844 crore, which helped lift the bottomline of the bank.

IndusInd Bank reported healthy growth in both corporate and retail loans during the quarter. The lender’s retail assets grew 16.3 per cent year-on-year to Rs 1.55 lakh crore. At the same time, the corporate loan book grew 11.2 per cent on-year to Rs 1.02 lakh crore.

Shares of IndusInd Bank ended 1 per cent lower at Rs 971.5 on the National Stock Exchange.