IndusInd Bank Q1 Results: Profit rises 30% to Rs 2,124 crore as bad loans decline - Check key highlights

IndusInd Bank Q1 Results: Leading private sector lender IndusInd Bank on Tuesday reported a 30 per cent rise in net profit at Rs 2,124 crore for the June quarter, helped by a decline in bad loans. The bank had posted a net profit of Rs 1,631 crore in the year-ago period.

In the regulatory filing, IndusInd Bak said that its total income in the first quarter of the current fiscal rose to Rs 12,939 crore from Rs 10,113 crore in the same period a year ago.

It further informed that interest earned by it grew to Rs 10,730 crore over Rs 8,182 crore in June 2022.

The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 1.94 per cent of gross advances at the end of the June quarter from 2.35 per cent a year ago.

Similarly, net NPAs or bad loans, eased to 0.58 per cent as against 0.67 per cent in the year-ago period.

Capital adequacy ratio of the bank increased to 18.40 per cent from 18.14 per cent in the same quarter of FY23.
 

IndusInd Bank Q1 Results: Key highlights consolidated financial results
 

• Net Interest Income (NII) grew by 18% YoY to Rs 4,867 crores from Rs 4,125 crores
   
• NIM improved to 4.29% as at Q1 FY24 as compared to 4.21% as at Q1 FY23 and 4.28% as at Q4 FY23
   
• Quarterly Net Profit grew by 30% YoY to Rs 2,124 crores from Rs 1,631 crores
   
• Deposits grew by 15% YoY to Rs 3,47,047 crores from Rs 3,02,719 crores
   
• Gross NPA and Net NPA ratios improved to 1.94% and 0.58% from 2.35% and 0.67% YoY respectively and PCR at 71% as at June 30, 2023
   
• CRAR as on June 30, 2023 at 18.40% as compared to 18.14% on June 30, 2022