 "indusind bank")
India's IndusInd Bank on Thursday reported a 17.3% jump in third-quarter profit, edging past estimates on the back of higher loan growth.
The bank reported a net profit of Rs 2,298 crore ($276.5 million) for the quarter ended December 31, compared to analysts' expectations of Rs 2,278 crore as per LSEG data.
IndusInd's loan disbursements grew 20% year-on-year, while deposits rose 13%.
Its net interest margin - the difference between interest obtained on loans and interest paid on deposits expressed as percentage - edged up to 4.29% from 4.27% a year ago, and was unchanged from the previous quarter.
While Indian lenders have been reporting double-digit loan growth consistently over the past few months, the cost of deposits has risen, pressuring margins.
HDFC Bank, India's top private bank, reported weak margins for a second consecutive quarter on Tuesday.
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IndusInd's net interest income - the difference between interest earned and paid - rose to Rs 5,296 crore from Rs 4,495 crore a year ago.
Interest earned rose 22.3%, while provisions and contingencies, or funds set aside to cover loan losses, declined 12.3% to Rs 934 crore.
