IndusInd Bank’s net profit in March quarter up 49.88%

24 Apr 2023 , 03:52 AM

IndusInd Bank’s net profit in the March quarter stood at Rs 2,040.51 crore. This is a y-o-y increase of 49.88%.  This increase is higher than what most analysts had expected. So the stock of the bank may get a push up in the coming days because of the performance beating expectations.

Net interest income of the bank in the March quarter stood at Rs 4,669.46 crore. This is a y-o-y increase of 17% in the net interest income of the bank. Net interest income is the difference between the interest that a bank earns on the loans that it gives, and the interest that it pays on its deposits. 

Retail loans given by the company grew by 7% over that in the previous quarter. Retail loans made up 54% of the total loans given by the bank, at the end of the March quarter.  Gross non- performing assets (NPA as a percentage of total loans given) stood at 1.98%. Net NPA stood at 0.59%.

The bank has also declared a dividend of Rs 14 per share.