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IndusInd Bank Profit Soars 72% on Lower Costs
22 Jul
Summary
- Net profit surged 72% year-on-year to ₹1,037 crore in Q1 FY27.
- Loan book decreased 2% year-on-year but grew 3% sequentially.
- Asset quality improved with a lower gross NPA ratio of 3.25%.
IndusInd Bank announced a significant 72% year-on-year rise in net profit for the quarter ending June (Q1 FY27), reaching ₹1,037 crore. This performance was bolstered by a notable decrease in provisions and operating expenses.
The bank's net interest income saw a modest 1% year-on-year growth to ₹4,685 crore. Net interest margin declined slightly by 9 basis points year-on-year to 3.35%.
Asset quality improved during the quarter, with fresh slippages falling to ₹1,660 crore. The gross non-performing asset ratio improved sequentially to 3.25%, and the net NPA ratio declined to 0.95%.
The loan book experienced a 2% year-on-year contraction but grew 3% sequentially to ₹3.26 trillion, driven by the wholesale portfolio. Deposits grew 4% year-on-year and sequentially to ₹4.14 trillion.
