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IndusInd Bank reported a 34.4 per cent drop in its net profit for the third quarter of the fiscal to ₹852.76 crore, as against ₹1,300.2 crore in the same period a year ago.
For the quarter ended December 31, its net interest income rose by a robust 10.8 per cent to ₹3,406.1 crore compared to ₹3,074.02 crore in the same period last fiscal. Net Interest Margin for the quarter was 4.12 per cent.
Other income however, declined to ₹1,705.46 crore in the October-December quarter, compared to ₹1,789.40 crore a year ago.
Provisions surged by 77.6 per cent to ₹1,853.52 crore in the third quarter of the fiscal as against ₹1,043.45 crore a year ago.
Gross non-performing assets stood at 1.74 per cent and net NPAs amounted to 0.22 per cent as on December 31, versus 2.18 per cent and 1.05 per cent respectively-- as on December 31, 2019.
The pro forma gross NPA would have been at 2.93 per cent and the pro forma net NPA after considering provisions allocated would have been 0.70 per cent. The restructuring pursuant to RBI resolution framework stands at 0.60 per cent of advances as at December 31.
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