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IndusInd Bank net profit down 37% to Rs 830 crore in December quarter

Other income declined by eight per cent to Rs 1,646 crore in Q3 of FY21 from Rs 1,790 crore in Q3 of FY20.

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2 min read Last Updated : Jan 30 2021 | 12:03 AM IST

Private lender IndusInd Bank saw a 37 per cent fall in net profit to Rs 830 crore in the third quarter ended December 2020 on higher provisions and contingencies. It had posted a net profit of Rs 1,309 crore in the quarter ended December 2019.

IndusInd Bank’s stock closed 5.44 per cent higher at Rs 846.25 crore on the BSE on Friday. Net interest income (NII) in the reporting quarter went up by 11 per cent to Rs 3,406 crore from Rs 3,074 crore in December 2019. Net interest margin for Q3 of FY21 was at 4.12 per cent against 4.15 per cent in Q3 of FY20.

Other income declined by eight per cent to Rs 1,646 crore in Q3 of FY21 from Rs 1,790 crore in Q3 of FY20.