The bank’s net profit climbed by 32.5 per cent year-on-year to reach Rs 2,124 crore, surpassing analysts’ estimated profit of Rs 2,055 crore.
Private sector lender IndusInd Bank exceeded first-quarter profit projections as it witnessed significant loan expansion and a decline in provisions for non-performing loans.
The bank’s net profit climbed by 32.5 per cent year-on-year (YoY) to reach Rs 2,124 crore, surpassing analysts’ estimated profit of Rs 2,055 crore.
IndusInd Bank’s net interest income rose by 18 per cent to Rs 4,967 crore, and its net interest margin expanded to 4.29 per cent from 4.21 per cent the previous year. The bank’s advances increased by 22 per cent YoY, while deposits witnessed a 15 per cent rise.
