Private lender IndusInd Bank on October 30 said its Q2FY21 consolidated net profit stood at Rs 663.1 crore, up from Rs 510.39 crore QoQ and down from Rs 1,400.96 crore YoY.
The profit numbers beat market expectations as a CNBC-TV18 poll which had estimated the numbers to the tune of Rs 549.6 crore.
Total income for the quarter stood at Rs 8,731.52 crore against Rs 8,682.17 crore QoQ and Rs 8,877.53 crore YoY.
The bank said it had made COVID-19 provisions of Rs 952 crore in Q2.
The bank's Q2FY21 NII grew 12.7 percent YoY to Rs 3,278 crore against 2,909.4 crore in Q2FY20. CNBC-TV18 poll's estimate for NII was Rs 3,263.1 crore.
The bank's NIM stood at 4.16 percent, up by 6 bps YoY.
Credit growth rose 2 percent YoY and deposit growth rose 10 percent YoY. Liquidity Coverage Ratio (LCR) stood at 140 percent for the said quarter.
The bank said its loan growth came at 2.1 percent YoY.
Gross Non Performing Assets (NPA) for the said quarter stood at Rs 4,532.2 crore against Rs 5,099 crore QoQ. Gross NPA came at 2.21 percent against 2.53 percent QoQ.
Net NPA stood at Rs 1,055.8 crore against Rs 1,703.4 crore QoQ. Net NPA came at 0.52 percent against 0.86 percent QoQ.
The bank's slippage for the said quarter came at Rs 399 crore against Rs 1,537 crore QoQ.
The company's total assets stood at Rs 3,31,996.33 crore against Rs 2,94,933.29 crore YoY.