Home / Companies / Results / IndusInd Bank's Q4 profit slumps 77% QoQ to Rs 302 cr, provisions jump 2x

IndusInd Bank's Q4 profit slumps 77% QoQ to Rs 302 cr, provisions jump 2x

To cushion against the uncertainties arising due to the outbreak of the coronavirus (Covid-19) pandemic, the bank has provided for Rs 260 crore under the provisions and contigencies segment

Premium

The numbers met Street estimates that had anticipated an over 70 per cent QoQ decline in profit

3 min read Last Updated : Apr 27 2020 | 5:11 PM IST

IndusInd Bank on Monday reported a 77 per cent sequential decline in standalone net profit at Rs 301.84 crore in the March quarter of FY20 (Q4FY20), against Rs 1,300.2 crore clocked in the December quarter of current fiscal (Q3FY20). On a consolidated basis, the net profit was Rs 315.25 crore.

The bank’s earnings are not comparable on a yearly basis owing to its merger with Bharat Financial in July, 2019. In Q4FY19, the PAT stood at Rs 360.1 crore.

The numbers met Street estimates that had anticipated an over 70 per cent QoQ decline in net profit.

Analysts at Nomura,

Topics : Coronavirus Markets IndusInd Bank Q4 earnings Reserve Bank of India RBI

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in