IndusInd Bank Q1 net rises 2% to ₹2,171 crore
The Hindu
IndusInd Bank Q1FY25 net profit grows 2% to ₹2,171 crore, NII up 11%, NPA ratio increases.
IndusInd Bank reported consolidated Q1FY25 net profit grew 2% from the year-earlier period to almost ₹2,171 crore, according to regulatory filings.
The year-on-year growth in net profit was about 30% in Q1FY24. The slower growth was the result of an increase in provisions and contingencies by 5.9% in the reporting quarter and heatwaves and general elections impacting rural economy in some pockets, said Sumant Kathpalia, MD & CEO, in an earnings call.
Net Interest Income (NII) climbed 11% to ₹5,408 crore, the lender said. Net Interest Margin (NIM) was stable at 4.25%.
Gross Non-Performing Assets (NPA) ratio climbed to 2.02% 1.94% and Net NPA to 0.60% from 0.58%. The Pune-based lender recorded a Capital Adequacy Ratio of 17.5% against 18.4% while staying at more than the Basel III norms.
IndusInd bank stock closed 1.68% higher at ₹1,403.4 on the BSE on Friday.
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