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IndusInd Bank's Q3 net profit increases 58% YoY on firm loan growth

Lower provisions boost numbers for lender; NIM maintained despite higher deposit rates

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Bhaskar Dutta Mumbai
Private lender IndusInd Bank on Wednesday reported a 58 per cent year-on-year (YoY) jump in consolidated net profit to Rs 1963.64 crore in October-December on the back of strong growth in net interest income.

A sharp decline in provisions for bad loans also boosted the bank’s bottomline in the third quarter of the financial year.

Sequentially, the bank’s net profit registered a growth of 9 per cent from Rs 1805.28 crore in July-September.

On a standalone basis, IndusInd Bank’s net profit surged 69 per cent YoY to Rs 1959.20 crore in October-December.

For the quarter under

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First Published: Jan 18 2023 | 6:31 PM IST

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