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IndusInd Bank second quarter net profit jumps 73% to Rs 1,147 crore

Bank's provisions for bad loans and contingencies fell to Rs 1,703.36 crore for the quarter from Rs 1,964.44 crore reserved for the year-ago period

IndusInd Bank | Q2 results | Banking

Press Trust of India  |  New Delhi 

indusind bank

Private sector lender on Wednesday reported a 73 per cent rise in its consolidated net profit to Rs 1,146.73 crore for the second quarter ended September 30.

The bank had posted a net profit of Rs 663.08 crore in the year-ago period.

Total income during the July-September quarter rose to Rs 9,488.06 crore from Rs 8,731.52 crore a year ago, said in a regulatory filing.

Interest income moved up at Rs 7,650.36 crore from Rs 7,177.21 crore.

On a standalone basis, the net profit increased by 72 per cent to Rs 1,113.53 crore from Rs 647.04 crore. And the total income rose to Rs 9,487.56 crore against Rs 8,731.05 crore.

Bank's provisions for bad loans and contingencies fell to Rs 1,703.36 crore for the quarter from Rs 1,964.44 crore reserved for the year-ago period.

However, there was an uptick in the bank's gross bad loan proportion at 2.77 per cent of gross advances as of September 30, 2021, against 2.21 per cent a year earlier.

Net NPAs too increased to 0.80 per cent from 0.52 per cent.

The scrip of closed at Rs 1,135.10 apiece on BSE, down 1.69 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, October 27 2021. 18:30 IST