October 24, 2024
New Delhi, India
IndusInd Bank Q2 Results
IndusInd Bank reported a 39.5% year-on-year (YoY) decline in consolidated net profit for Q2FY25, bringing it to ₹1,331.29 crore, compared to ₹2,202.16 crore in the same period last year. The sharp drop in profit was attributed to a rise in contingent provisions.
Key Financial Highlights:
- Net Interest Income (NII): Increased by 5% YoY to ₹5,347 crore.
- Net Interest Margin (NIM): Declined to 4.08% from 4.29% YoY.
- Pre-Provision Operating Profit (PPOP): Fell by 8% YoY to ₹3,600 crore.
- Operating Expenses: Rose 14% YoY to ₹3,932 crore.
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Loan & Deposit Growth:
- Deposits: Grew by 15% YoY to ₹4,12,397 crore.
- CASA Deposits: Reached ₹1,47,944 crore, accounting for 35.87% of total deposits.
- Advances: Up 13% YoY to ₹3,57,159 crore.
Asset Quality:
- Gross NPA: Stood at 2.11%, up from 2.02% QoQ.
- Net NPA: Rose slightly to 0.64% from 0.60% QoQ.
- Provisions & Contingencies: Jumped to ₹1,820 crore, including an increase of ₹525 crore in contingent provisions.
Despite the profit dip, IndusInd Bank’s loan book quality remains stable, and it has made prudent provisions to safeguard its financials.
Shares of IndusInd Bank closed 0.45% higher at ₹1280.05 on Thursday, October 24.
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Latest Q2 Results
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