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IndusInd Bank Q2 PAT surges 72% YoY to Rs 1113 cr

Capital Market 

The private bank's standalone net profit surged 72% to Rs 1113.53 crore on an 8.6% increase in total income to Rs 9487.56 crore in Q2 FY22 over Q2 FY21.

The bank's operating profit before provisions and contingencies rose 12% year on year to Rs 3,174.46 crore in Q2 FY22 over Q2 FY21. Profit before tax increased by 70% to Rs 1471.10 crore in Q2 FY22 from Rs 866.09 crore in Q2 FY21.

Provisions and Contingencies contracted by 13% to Rs 1703.36 in Q2 FY22 from Rs 1,964.44 posted in Q2 FY21. In the view of the COVID-19 pandemic, the bank made a regulatory, floating, cyclical and contingent provisions of Rs 3,515 crore as of 30 September 2021. During the quarter, the bank utilised provision of Rs 125 crore against non performing assets.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 6,245.04 crore as on 30 September 2021 as against Rs 6,185.76 crore as on 30 June 2021 and Rs 4,532.15 crore as on 30 September 2020. The ratio of gross NPAs to gross advances stood at 2.77% as on 30 September 2021 as against 2.88% as on 30 June 2021 and 2.21% as on 30 September 2020. The ratio of net NPAs to net advances stood at 0.8% as on 30 September 2021 as against 0.84% as on 30 June 2021 and 0.52% as on 30 September 2020.

Capital Adequacy Ratio stood at 17.37% in Q2 FY22 as compared to 17.57% in Q1 FY22 and 16.55% in Q2 FY21.

IndusInd Bank caters to both consumer and corporate customers. Shares of IndusInd Bank closed 1.69% lower at Rs 1,135.10 on BSE.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 27 2021. 17:27 IST
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