IndusInd Bank Q4 net profit jumps over two-fold to Rs 876 cr

IndusInd Bank on Friday reported an over two-fold jump in standalone net profit at Rs 876 crore for the last quarter of the fiscal ended March 2021. The private sector lender had posted a net profit of Rs 301.84 crore in the corresponding quarter of 2019-20.

NEW DELHI: IndusInd Bank on Friday reported an over two-fold jump in standalone net profit at Rs 876 crore for the last quarter of the fiscal ended March 2021. The private sector lender had posted a net profit of Rs 301.84 crore in the corresponding quarter of 2019-20.
Total income was slightly up at Rs 9,199.48 crore in Q4 FY21 as against Rs 9,158.57 crore in same period of the previous fiscal, IndusInd Bank said in a regulatory filing.
However, on a full year basis, the net profit fell by nearly 36 per cent to Rs 2,836.39 crore in 2020-21 as against Rs 4,417.91 crore in 2019-20.
Income during the year also fell to Rs 35,558.41 crore from Rs 35,734.14 crore.
Gross non-performing assets (NPAs) of the bank rose slightly to 2.67 per cent of the gross advances as of March 31, 2021, from 2.45 per cent by end of March 2020.
Net NPAs, however, softened to 0.69 per cent from 0.91 per cent.
Provisions for bad loans and contingencies during the reported quarter fell to Rs 1,865.69 crore as against Rs 2,440.32 crore put aside in the year-ago period.
On a consolidated basis, the net profit in March quarter nearly trebled at Rs 926.22 crore from Rs 315.25 crore.
Income rose slightly at Rs 9,199.71 crore in Q4 FY21 as against Rs 9,158.80 crore.
Stock of IndusInd Bank closed 0.43 per cent down at Rs 934.95 apiece on BSE. KPM ABM ABM

FacebookTwitterLinkedinEMail

Leave a Reply

Your email address will not be published. Required fields are marked *