IndusInd Bank Q2 Results: Profit jumps 60.4% YoY to Rs 1,787 crore, beats estimates

IndusInd Bank on Wednesday reported a sharp 60.4% year-on-year (YoY) rise in net profit for the quarter ended September to Rs 1,787 crore. Net interest income for the quarter rose nearly 18% to Rs 4,302 crore.

The net profit was above the ET Now poll of Rs 1,730 crore, while net interest income was largely on expected lines.

Provisions during the quarter fell over 33% on year to Rs 1,141 crore. In the previous quarter, provisions stood at Rs 1,250 crore.


The private sector lender’s asset quality improved during the quarter, with the gross non-performing asset ratio dipping to 2.11% from 2.35% a quarter ago and 2.77% a year ago.

The net non-performing asset ratio dropped to 0.61% from 0.67% a quarter ago and 0.80% a year ago.

Operating profit in the quarter rose nearly 11% on year to Rs 3,519 crore. The bank held contingency provision of Rs 2,653 crore as of September 30.