IndusInd Bank Q2 profit surges 52% YoY to Rs 1,401 crore, provisions jump 25%

Private lender IndusInd Bank on Thursday reported a 52.22 per cent year-on-year rise in consolidated net profit at Rs 1,400.96 crore for the quarter ended September 30.

The bank had posted a profit of Rs 920.34 crore in the corresponding quarter last year.

Analysts in an ET NOW poll had projected a net of Rs 1,404 crore.


Provisions and contingencies jumped 24.97 per cent on a yearly basis to Rs 737.71 crore.

Asset quality of the lender deteriorated with a percentage of gross non-performing assets jumping to 2.19 per cent from 1.09 per cent last year. The figure stood at 2.15 per cent in the preceeding quarter ended June 30. Percentage of net NPA also increased to 1.12 per cent from 0.48 per cent.

Consolidated net interest income (NII) increased 32 per cent to Rs 2,909.35 crore.

On a standalone basis, profit of the lender jumped 50.32 per cent to Rs 1,383.37 crore in over Rs 920.25 crore in the same quarter last year.

Shares of IndusInd Bank declined nearly 5 per cent to Rs 1,245 after the quarterly results, while the benchmark BSE Sensex was down 362 points, or 0.95 per cent, at 37,815 at around 2.35 pm (IST).