Business Standard

IndusInd Bank's profit before tax declines 72% to Rs 602.45 crore

The lender's net interest income rose 16.4 per cent year on year to Rs 3,309 crore

indusind bank
Premium

The bank has got approval to raise Rs 3,288 crore through preferential issue of fully paid-up 62.8 million equity shares at a price of Rs 524

Subrata Panda Mumbai
IndusInd Bank reported a 72 per cent fall in its pre-tax profit, to Rs 602.45 crore, in the first quarter, against Rs 2,160.34 crore in Q1FY20, due to additional provisioning for Covid. The lender’s net interest income rose 16.4 per cent year on year to Rs 3,309 crore. Its net profit plunged 68 per cent to Rs 460.4 crore, from Rs 1,432.3 crore a year ago. The bank has got approval to raise Rs 3,288 crore through preferential issue of fully paid-up 62.8 million equity shares at a price of Rs 524. This will augment the capital base of the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 29 2020 | 1:10 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com