IndusInd Bank Q4 Results: Net profit jumps over 45% YoY to Rs 2,043 crore; lender announces Rs 14 dividend per share

IndusInd Bank Q4FY23 Result: IndusInd Bank, one of the leading private banks, witnessed a jump of 46 per cent in their net profit on Monday as its profit grew by 46% YoY to Rs 2,043 crore from Rs 1,401 crore in the March quarter of last fiscal. However, gross NPAs rose to Rs 5,826.27 crore in this quarter as compared to Rs 5517.15 crore in the March 2022 quarter. In terms of percentage, gross NPAs stood at 1.98% in the last quarter against estimates of 1.94%.

The Board has also mentioned about the payment of dividend at the rate of Rs 14 per equity share of Rs 10/each of the bank, for the financial Year 2022-23 (140%), provided there is an approval of the shareholders at the Annual General Meeting.

The lender’s net interest income (NII) — or the difference between interest earned and interest paid — for the year ended March 31, 2023 increased to Rs 17,592 crores, up by 17% from Rs 15,001 crores previous year.

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