IndusInd Bank Q1 net profit falls 68% to Rs 461 cr on higher provisioning

The net NPAs, however, showed improvement as it fell to 0.86 per cent of the net advances by the end of first quarter FY21

Private sector IndusInd Bank on Tuesday reported nearly 68 per cent fall in standalone net profit to Rs 460.64 crore for the first quarter ended June 30, due to jump in provisioning.

The bank had posted a net profit of Rs 1,432.50 crore in the same quarter previous fiscal.

The bank's standalone total income was up at Rs 8,680.92 crore in April-June quarter, compared to Rs 8,624.62 crore in the same period last year, IndusInd Bank said in a regulatory filing.

On the asset quality side, there was slight impairment with the gross non-performing assets (NPAs) or the bad loans