IndusInd Bank results: Net profit surges, so do NPAs

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October 10, 2019 4:23 PM

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IndusInd Bank on Thursday reported a jump of 52.2 per cent in consolidated net profit at Rs 1,400.96 crore for the September quarter of the ongoing financial year. The private sector lender had posted a profit of Rs 920.34 crore for the July-September period of 2018-19. Total income during the second quarter of 2019-20 rose to Rs 8,877.53 crore from Rs 6,755.37 crore in the year-ago period.

However, the bank’s gross non-performing assets (NPAs) rose to 2.19 per cent of gross advances as on September 30, 2019 from 1.09 per cent by the same period a year ago. Net NPAs or bad loans were 1.12 per cent, up from 0.48 per cent a year earlier. 240731The bank’s provision for bad loans and contingencies for the September quarter was increased to Rs 737.71 crore, as against Rs 590.27 crore parked aside a year ago.

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