IndusInd Bank Q3 results: Net profit rises 17%, net interest income 18% up
IndusInd Bank Q3 results: The Gross Non-Performing Assets (NPA) stood at 1.92%, a marginal improvement from the previous quarter's 1.93%. Similarly, the Net NPA remained stable at 0.57%.
IndusInd Bank on Thursday, January 18, reported around 17.3% rise in net profit to reach ₹2,297.9 crore for the October–December quarter, compared to ₹1,959.2 crore in the same period last year. CNBC-TV18 poll had anticipated a net profit of ₹2,274 crore.
The lender's Net Interest Income (NII) registered growth of 17.8% year-on-year to reach ₹5,295.7 crore.
The lender had posted NII at ₹4,495 crore in the corresponding period of the previous year.
The Gross Non-Performing Assets (NPA) stood at 1.92%, a marginal improvement from the previous quarter's 1.93%. Similarly, the Net NPA remained stable at 0.57%.
As per Basel III norms, the lender recorded a capital adequacy ratio of 17.86%, showing a slight decline from 18.21% in the previous quarter and 18.01% in the same quarter of the previous year.
The Common Equity Tier 1 (CET 1) ratio for the reporting period was 16.07%. Maintaining consistency, the Provision Coverage Ratio remained at 71% as of December 2023.
The Net Interest Margin (NIM) for the third quarter held steady at 4.29%, unchanged from the preceding September quarter.
On Thursday, IndusInd Bank's shares witnessed 1.7% decline, closing at ₹1,615.75 on the NSE.
First Published: Jan 18, 2024 4:23 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Repolling underway at one polling booth in Chamarajanagar LS segment in Karnataka
Apr 29, 2024 10:32 AM
2024 Lok Sabha Elections | What does a low voter turnout indicate for NDA and I.N.D.I.A Bloc
Apr 29, 2024 5:48 AM
'Borrowed' leaders: Congress hits out at AAP for not fielding their own candidates in Punjab
Apr 28, 2024 9:53 PM
EC asks AAP to modify election campaign song and Kejriwal's party is miffed
Apr 28, 2024 9:25 PM