IndusInd Bank Q2 net profit jumps 72.9% to Rs1,146.7 crore

Private lender IndusInd Bank has posted a 72.9 per cent increase in its net profit at Rs1,146.7 crore for fiscal second quarter ended 30 September 2021 against a net profit of Rs663.1 crore in the corresponding quarter of the previous year. 

Total income during the July-September quarter rose to Rs9,488.06 crore from Rs8,731.52 crore a year ago, IndusInd Bank said in a regulatory filing.
Net interest income (NII) of the bank jumped 11.6 per cent to Rs3,658 crore against Rs3,278 crore in the corresponding quarter of the previous financial year. Interest income rose to Rs7,650.36 crore from Rs7,177.21 crore during the previous year quarter.
Gross NPA stood at 2.77 per cent in the September quarter against 2.88 per cent in the June quarter. Net NPA stood at 0.80 per cent against 0.84 per cent in the previous quarter.
Gross NPA stood at Rs6,245 crore (2.77 per cent)  in the September quarter against Rs6,185.8 crore (2.88 per cent ) in the previous quarter, whereas net NPA stood at Rs1,771.3 crore in the September 2020 quarter against Rs1,759.6 crore in the June 2020 quarter.
Bank's provisions for bad loans and contingencies were lower at Rs1,703.36 crore for the quarter against Rs1,964.44 crore for the year-ago quarter. However, there was an uptick in the bank's gross bad loan proportion at 2.77 per cent of gross advances as of 30 September 2021, against 2.21 per cent a year earlier.