IndusInd Bank Q3 Net Profit Rises 17% to Rs 2,301 Crore

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IndusInd Bank’s total income rises to Rs 13,968 crore during the quarter under review as against Rs 11,534 crore in the year-ago period

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Private sector lender IndusInd Bank on Thursday posted a 17 per cent increase in net profit to Rs 2,301 crore in the third quarter ended December 2023. The bank had recorded a net profit of Rs 1,964 crore in the October-December quarter last fiscal, according to a regulatory filing.

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The total income of the lender rose to Rs 13,968 crore during the quarter under review as against Rs 11,534 crore in the year-ago period. The gross Non-Performing Assets (NPAs) declined to 1.92 per cent of the total advances during the third quarter of the current fiscal as against 2.06 per cent in the same period a year ago.

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Net NPAs of the bank also moderated to 0.57 per cent in the latest December quarter from 0.62 per cent of the total assets.