IndusInd Bank's profit came in at Rs 2,123.62 against Rs 1,603.29 crore in the same quarter last year. The profit growth came in-line with Street expectations.
IndusInd Bank Q1 Results: The lender's gross non-performing asset (NPA) improved to 1.94 per cent in the first quarter, from 2.35 percent in the same quarter last year.
IndusInd Bank’s provisional business numbers indicate strong growth momentum – loan growth of 21 per cent YoY (3.8 per cent QoQ) and deposit growth of 14.6 per cent YoY (3.2 per cent QoQ).
IndusInd Bank s total income in the June quarter increased by 28% YoY to Rs 12,939 crore. Net interest income, the difference between interest earned and interest expended, rose 18% YoY to Rs 4,867 crore. The banks operating profit, before provisions and contingencies, grew 13% YoY to Rs 3,830 crore. Provisions for the said quarter stood at Rs 992 crore, compared with Rs 1,251 crore a year ago.