IndusInd Bank Q1 net up 64% to Rs 1,603 cr on surge in net interest income

On the asset quality front, IndusInd Bank's gross non-performing asset ratio was at 2.35 per cent as on June 30

IndusInd Bank on Wednesday reported a 64.4 per cent year-on-year rise in its standalone net profit to Rs 1,603.29 crore during Q1FY23, led by a healthy increase in net interest income.

The private sector lender had reported a profit after tax of Rs 974.95 crore in the first quarter of the previous financial year. Sequentially, IndusInd Bank’s net profit rose 17.8 per cent from Rs 1,361.37 crore in January-March.

During the quarter gone by, the private bank’s net interest income registered 16 per cent YoY growth to Rs 4,215 crore. The net interest income -- the difference between the interest