IndusInd Bank Q2 profit up 22% to Rs 2,202 crore
Oct 18, 2023, 18:31 IST
IndusInd Bank on Wednesday posted 22% rise in consolidated net profit at Rs 2,202 crore for September quarter 2023-24, aided by decline in bad loans and a rise in interest income. The lender had logged a profit of Rs 1,805 crore in the year-ago period.
Total income increased to Rs 13,530 crore during the quarter under review, as against Rs 10,719 crore in the same period last year, IndusInd Bank said in a regulatory filing.
The bank earned an interest income of Rs 11,248 crore during the quarter, as compared to Rs 8,708 crore in the same period a year ago.
On the asset quality front, the lender reported an improvement as gross non-performing assets (NPAs or bad loans) fell to 1.93% of gross advances as of September 2023 from 2.11% by the year-ago same period.
Likewise, net NPAs came down to 0.57% from 0.61%.
As a result, provisions (other than tax) contingencies declined to Rs 974 crore as compared to Rs 1,141 crore in the same quarter a year ago.
The Capital Adequacy Ratio improved to 18.21% at the end of September 2023 as against 18.01% a year ago.
Advertisement
Total income increased to Rs 13,530 crore during the quarter under review, as against Rs 10,719 crore in the same period last year, IndusInd Bank said in a regulatory filing.
The bank earned an interest income of Rs 11,248 crore during the quarter, as compared to Rs 8,708 crore in the same period a year ago.
On the asset quality front, the lender reported an improvement as gross non-performing assets (NPAs or bad loans) fell to 1.93% of gross advances as of September 2023 from 2.11% by the year-ago same period.
Likewise, net NPAs came down to 0.57% from 0.61%.
Advertisement
The Capital Adequacy Ratio improved to 18.21% at the end of September 2023 as against 18.01% a year ago.