IndusInd Bank net profit jumps 194% in March quarter on low provisions

IndusInd Bank on Friday reported a 194 per cent jump in year-on-year profit on a consolidated basis, as it lowered provisions and went slow on loan growth.
 
The profit after tax grew to Rs 926 crore, from Rs 315 crore in the year-ago period. While its net interest income grew 9 per cent to Rs 3,535 crore, provisions and contingencies came down 24 per cent to Rs 1,866 crore.
 
The gross non-performing assets (NPA) fell to 2.67 per cent of the advances in the quarter, from 2.93 per cent in the third quarter, including proforma NPAs, even as