IndusInd Bank net profit up 38% in June quarter; stock falls over 1%

The bank saw an increase in its bad debt

Private lender IndusInd Bank on Friday reported an 18 per cent jump in its net profit at Rs 1,220 crore in the June quarter (Q1) of the financial year 2019-20 (FY20). In the same quarter in FY19, the bank had reported a net profit of Rs 1,036 crore. On a consolidated basis, the bank has reported a net profit of Rs 1,433 crore, thereby registering a 38.3 per cent growth year-on-year (y-o-y). This is the lender’s first quarterly result after microfinance lender Bharat Financial Inclusion (BFIL) merged with it.

The net interest income (NII) on a standalone basis stood at