Q3 Results 2025 Live: IndusInd Bank, Bandhan Bank report mixed results; net profit declines for both

Bandhan Bank has posted a 41.8% year-on-year decline in net profit for the third quarter of FY25, with the figure standing at Rs 426.5 crore compared to Rs 732.7 crore in the same period last year.

The bank's net interest income (NII) rose by 12.1%, reaching Rs 2,830.3 crore, up from Rs 2,525.4 crore in Q3 FY24.

In terms of asset quality, the bank's gross non-performing assets (NPAs) remained flat at 4.68% quarter-on-quarter. However, the net NPA ratio improved marginally to 1.28% from 1.29% in the previous quarter.

IndusInd Bank has reported a 39% year-on-year decline in net profit for the third quarter of FY25, with the figure standing at Rs 1,402.3 crore compared to Rs 2,301 crore in the same quarter last year.

The bank's net interest income (NII) saw a slight dip of 1.3%, reaching Rs 5,228.1 crore, compared to Rs 5,295.6 crore in Q3 FY24.

In terms of asset quality, IndusInd Bank's gross non-performing assets (NPAs) increased to Rs 8,375.3 crore from Rs 7,638.5 crore in the previous quarter, resulting in a rise in the gross NPA ratio to 2.25% from 2.11% quarter-on-quarter. The net NPA ratio also saw a marginal increase to 0.68% from 0.64% in Q2 FY25.

Provisions for the quarter stood at Rs 1,743.6 crore, down from Rs 1,820 crore in the previous quarter, but significantly higher than the Rs 969.3 crore provisions made in Q3 FY24.

Cholamandalam Investment and Finance Company Ltd. (Cholamandalam) reported a robust 25% year-on-year growth in its net profit for the third quarter (Q3) of FY25, reaching Rs 1,088 crore, compared to Rs 872 crore in the same period last year. The company’s net interest income (NII) saw a significant increase of 33%, rising to Rs 2,892 crore, up from Rs 2,566.4 crore in Q3 FY24.

However, the company's gross non-performing asset (NPA) ratio saw a slight increase to 4%, compared to 3.78% in the previous quarter. Similarly, the net NPA ratio rose to 2.66% from 2.48% in Q2 FY25. The provision coverage ratio stood at 44.1%, slightly lower than the 44.5% recorded in the previous quarter.

Marico has reported a 4.2% year-on-year increase in its net profit for the third quarter of FY25, reaching Rs 399 crore, compared to Rs 383 crore in the same period last year. The company’s revenue also saw a robust growth of 15.4%, climbing to Rs 2,794 crore from Rs 2,422 crore in Q3 FY24.

However, Marico's earnings before interest, tax, depreciation, and amortization (EBITDA) showed a more modest growth of 3.9%, reaching Rs 533 crore, up from Rs 513 crore a year ago. The company's EBITDA margin, though positive, shrank to 19.1% from 21.2% on a year-on-year basis.

IndusInd Bank shares plunged over 33% in Q3FY25, making it the worst Nifty 50 performer of 2024. In comparison, the benchmark Nifty 50 index declined just 4% during the same period.

The bank's net interest margin (NIM) is projected to contract by 37 basis points (bps) YoY, slipping to 4% from 4.4% in Q3FY24. The higher cost of funds is seen as a major pressure point on profitability.

IndusInd Bank's Q3FY25 provisional update revealed that loan growth remained sluggish:

Loans grew 3% QoQ and 12% YoY, reaching Rs 3.67 lakh crore.

Deposits surged 11% YoY to Rs 3.6 lakh crore in the same period.

Punjab National Bank (PNB) reported a significant rise in its net profit for the third quarter, reaching Rs 4,508 crore, compared to Rs 2,222 crore in the same period last year, marking an impressive over 100% YoY growth.

The Net Interest Income (NII) for the quarter also saw a 7.2% YoY increase, amounting to Rs 11,032.2 crore, up from Rs 10,292.8 crore in Q3FY24.

Analysts' estimates vary widely, indicating that any positive or negative surprises could lead to sharp movements in the stock price. Among the brokerages polled, B&K Securities had the most bullish projections, while Sharekhan forecasted the slowest growth.

According to a Moneycontrol poll of five brokerages, IndusInd Bank's net profit is projected to slump 38.6% YoY, dropping to Rs 1,411 crore from Rs 2,301 crore in Q3FY24. However, net interest income (NII) is expected to post a modest 10% YoY growth, reaching Rs 5,833 crore, up from Rs 5,295 crore a year ago.

After a challenging 2024 as the worst-performing Nifty 50 stock, IndusInd Bank is expected to report a steep decline in net profit for Q3FY25, weighed down by rising slippages in its microfinance (MFI) portfolio and increasing funding costs. The bank is set to announce its third-quarter results on January 31, 2025.

Investors will focus on consolidated earnings, particularly given the strong performance of ONGC’s subsidiary HPCL.

Analysts project a 29% QoQ rise in consolidated EBITDA, supported by improved marketing margins at HPCL.

The market will also monitor updates on gas production ramp-up and management’s outlook on crude price trends.

A weaker rupee, higher net oil price realizations, and lower operating costs are expected to support EBITDA growth.

Upstream EBITDA is likely to remain flat QoQ, as weaker crude prices are balanced by rupee depreciation and premium APM gas pricing.

Crude oil realisations are expected to decline in line with global price trends.

Gas realisations may improve following the premium pricing notification for new well gas (NWG).

Net realisations are estimated at $74.7/bbl for oil and $6.5/mmBtu for gas.

ONGC’s standalone production volumes are expected to remain largely flat QoQ, as incremental growth from the KG Basin helps offset the natural decline in older fields.

Oil production: Likely to decline 2% QoQ and 5% YoY.

Gas production: Expected to remain flat QoQ, down 1% YoY.

• Crude Oil Sales Volumes: 4.54 MMT (-4% YoY, -1% QoQ).

• Natural Gas Sales Volumes: 3.9 BCM (-2% YoY, flat QoQ).

• Gross Crude Price Realization: $73/bbl (-11% YoY, -7% QoQ).

• Net Oil Price Realization (post-royalty, windfall tax, cess): $52/bbl (+1% YoY, -3% QoQ).

According to a Moneycontrol poll of nine brokerages, ONGC’s financial performance is expected to reflect a downward trend:

Net Profit: Estimated to decline 16% YoY to Rs 8,997.8 crore, remaining flat sequentially.

Revenue: Projected to fall 10% YoY and 7% QoQ to Rs 31,447.6 crore.

EBITDA: Expected to see a 5% YoY growth to Rs 18,038.6 crore, though likely to decline slightly on a sequential basis.

State-run Oil & Natural Gas Corporation Ltd (ONGC) is expected to report a decline in revenue and net profit for the December quarter, impacted by lower crude oil realizations, a weaker rupee, and reduced operating expenses. The company is set to announce its Q3 FY25 results today.

Nestle India reported a 5% year-on-year (YoY) growth in net profit for the third quarter, reaching Rs 688 crore, compared to Rs 655.6 crore in the same period last year. Revenue for the quarter rose 4% YoY to Rs 4,779.7 crore, up from Rs 4,600.4 crore.

EBITDA saw a slight decline of 1% YoY, standing at Rs 1,103 crore, compared to Rs 1,113 crore last year. Margins contracted to 23% from 24.2% YoY.`

The company highlighted that three out of four product groups delivered healthy growth during the quarter. Key brands continued to perform well, with growth driven by a combination of pricing and volume, despite a challenging market environment.

As the third-quarter earnings season unfolds, a wave of major companies is set to report their financial performance for Q3 FY25 on January 31, 2025. From banking and pharmaceuticals to infrastructure and energy, a diverse mix of 135 firms will unveil their numbers, offering valuable insights into sectoral trends and market momentum.

Among the heavyweights, Vedanta Ltd, Sun Pharmaceutical Industries Ltd, and Pfizer Ltd are gearing up to release their quarterly results, alongside top banking names like Punjab National Bank, IndusInd Bank, and Bandhan Bank. Investors will also be keeping a close watch on consumer goods giant Nestle India, financial services player LIC Housing Finance, and energy major ONGC for updates on their performance.

Infrastructure leaders IRB Infra and Inox Wind, along with investment firm Nuvama, are also on the earnings docket, adding to the mix of market-moving announcements.