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IndusInd Bank soars 7% on in-line June quarter result, capital raising plan

The lender's Board approved to raise capital, via preferential issue, of up to Rs 3,288 crore.

On consolidated basis, IndusInd Bank reported 64.4 per cent decline in its net profit at Rs 510.39 crore in Q1FY21, compared to Rs 1,432.54 crore in year-ago quarter.
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On consolidated basis, IndusInd Bank reported 64.4 per cent decline in its net profit at Rs 510.39 crore in Q1FY21, compared to Rs 1,432.54 crore in year-ago quarter.

SI Reporter New Delhi
Shares of IndusInd Bank zoomed 7 per cent to Rs 564 on the BSE on Wednesday after the bank's June quarter earnings came largely in-line with analysts expectations. It's standalone net profit came in at Rs 460.64 crore for the first quarter ended June 30, down 68 per cent compared to a net profit of Rs 1,432.50 crore in the same quarter previous fiscal.

Analysts at ICICI Securities had expected the private lender's net profit to plunge 83.5 per cent year-on-year (YoY) to Rs 236.8 crore in the recently concluded quarter. Sequentially, the decline would have been 21.5 per cent from

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First Published: Jul 29 2020 | 10:36 AM IST

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