IndusInd Bank Q3 Results: IndusInd Bank’s profit in the third quarter increased by 69 percent to Rs 1,959 crore
IndusInd Bank released the results of the December quarter (IndusInd Bank Q3 Results) on Wednesday. The bank said that the net profit has increased by about 69 percent annually to Rs 1,959 crore. Net profit was estimated to be Rs 1,950 crore in the ET Now poll, the estimate has been very close in the result. Let us tell you that compared to the second quarter, the net profit has been higher by about 9 percent in this quarter. Because, in the second quarter the net profit was recorded at 60.4 percent.
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According to IndusInd Bank, net interest income in the third quarter has increased by 19 percent year-on-year to Rs 4,495 crore. At the same time, in the second quarter, the bank achieved an 18 percent increase in net interest income. Strong loan growth in the third quarter helped the bank achieve buoyancy. With this, the contingency expenditure has come down by 36 per cent year-on-year to Rs 1,065 crore.
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IndusInd Bank reported that asset quality further improved during the third quarter, as gross non-performing assets as a percentage of total loans declined from 2.11 per cent to 2.06 per cent during the quarter. Along with this, net non-performing assets as a percentage of total loans have come down to 0.62 per cent from 0.71 per cent a year ago.
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