IndusInd Bank's Q3 net profit rises 50% on higher NII and lower provisions

Asset quality of the lender improved on a sequential basis

Private sector lender IndusInd Bank’s consolidated net profit jumped 50 per cent to Rs 1,242 crore in the October–December quarter (Q3) of FY22, aided by healthy net interest income and lower provisions. In the corresponding period of last year, the bank had reported a net profit of Rs 830 crore. The bank’s standalone net profit for the period was up 36 per cent to Rs 1,161 crore.

Net interest income of the lender, the difference between interest earned and interest expended, increased 11 per cent to Rs 3,794 crore in the reporting quarter while net interest margin, a measure of