Home Business IndusInd Bank gains Rs 1300 crore, provisioning increases 72% to Rs 1043...

IndusInd Bank gains Rs 1300 crore, provisioning increases 72% to Rs 1043 crore

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IndusInd Bank gains Rs 1300 crore, provisioning increases 72% to Rs 1043 crore

IndusInd Bank Q3: Profits of private sector big bank IndusInd Bank increased by 32 percent in the third quarter of the current financial year.

IndusInd Bank Q3 Result Update In Hindi

The profit of private sector big bank IndusInd Bank increased by 32 percent in the third quarter of the current financial year. During this period, the bank has a net profit of Rs 1300.20 crore. The bank had a net profit of Rs 985.03 crore in the year-ago period. During this time the income of the bank has also increased to Rs 9073.93 crore. During this period, the asset quality of the bank has improved on a quarterly basis. However, provisioning has increased.

9,073.93 crores income

IndusInd Bank’s interest income grew 34.3 per cent to Rs 3,074 crore in the third quarter of FY 2020. The bank’s interest income stood at Rs 2288.1 crore in the third quarter of FY 2019. In a communication sent to the stock exchanges, the bank said that its total income rose to Rs 9073.93 crore during the quarter, from Rs 7,232.32 crore in the same quarter of the previous financial year.

NPA reduced quarterly

During the third quarter, the gross non-performing assets (gross non-performing assets) of the bank declined from 2.19 per cent to 2.18 per cent on a quarterly basis. At the same time, on an annual basis, it was 1.13 percent in the same period a year ago. During this period, the net NPA of the bank decreased from 1.12 per cent to 1.05 per cent on a quarterly basis. However, it was 0.59 per cent in the same quarter a year ago.

In rupee terms, the gross NPAs of IndusInd Bank increased from Rs 4,370.2 crores to Rs 4,578 crores in the third quarter on quarterly basis, while net NPAs decreased from Rs 2,203 crores to Rs 2,173 crores.

Provisioning increased to 1043 crores

On a quarterly basis, the provisioning of the bank increased to Rs 1043.4 crore from Rs 737.7 crore in the third quarter. Whereas in the third quarter of last year, the provisioning of IndusInd Bank was Rs 606.7 crore. That is, it has increased by 72 percent on an annual basis.

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