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IndusInd Bank, today, released their financial result for the quarter ended in December 2018 of the current fiscal year with a net profit of Rs. 985 Crores, registering a 5.2% increase in profit levels as compared to the net profit of Rs. 936 crores recorded during the corresponding quarter of the previous fiscal.
The private sector lender’s total interest earned during Q3 FY19 was reported at Rs. 5763 crores as against total interest earned of Rs. 4286 crores, posting a 34.4% surge during the said period. The bank’s Net Interest Income (NII) or the core income of the bank also jumped by 21% (Y.o.Y) to Rs 2,288 crores.
The IndusInd Bank also witnessed a three-fold increase in its provisions and contingencies from Rs. 236 crores during Q3 FY18 to Rs. 606 crores during Q3 FY19. The bank’s gross non-performing assets or NPA worsen during the third quarter of the current fiscal year at Rs. 1968 crores as against gross NPA of Rs. 1498 crores.
The bank also reported a higher net NPA at Rs. 1029 crores, worsening 31% on a quarterly basis, as against Rs 787 crores. The bank’s gross NPA % and net NPA % during the October-December quarter of FY19 stood at 1.13% and 0.59% respectively.
