IL&FS crisis impact: IndusInd Bank stock falls 8.52%, hits 15-month low

IndusInd Bank’s stocks fell 8.52 per cent on the BSE over its previous close, after the private lender reported low profit growth in September. The primary reason for its profit growing slowly was provisions for exposure to debt-ridden Infrastructure Leasing & Financial Services (IL&FS).

While the bank’s operating parameters remain strong, the exposure to IL&FS and its potential impact on further provisioning and asset quality has spooked the market.

IndusInd Bank made a contingent provision of Rs 2.75 billion against its exposure to the IL&FS group. While the bank said its exposure was against certain cash flows, the uncertainty revolving