IndusInd Bank reports 32% YoY rise in Q3 net profit; asset quality stable

IndusInd Bank shares witnessed see-saw trade after the lender sharply increased provisions in the December quarter of the current fiscal. The bank made provisions for Rs 1,043.45 crore, as against Rs 737.71 crore provided for in Q2FY20, and Rs 606.68 crore in Q3FY19.  

The scrip first rose nearly 3 per cent to hit an intra-day high of Rs 1,586.55 on the BSE on Tuesday, before sliding 7.3 per cent off day's high to hit an intra-day low of Rs Rs 1471.

The bank reported a standalone net profit of Rs 1,300 crore, up 32 per cent year-on-year from Rs 985.03