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IndusInd Bank Q3 profit falls 34% YoY, but beats market estimates

Gross NPA stood at Rs 3,650.6 crore against Rs 4,532.2 crore in Q2 FY21. It stood at 1.74 percent of the total assets against 2.21 percent in Q2 FY21.

January 29, 2021 / 05:00 PM IST
 
 
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IndusInd Bank on January 29 reported a standalone net profit of Rs 852.76 crore for the quarter ended December 2020, down 34 percent YoY against Rs 1,300.20 crore in the corresponding quarter of the previous financial year.

In the September quarter of FY21, the bank had reported a profit of Rs 647 crore.

The profit figures were better than the market expectations as a CNBC-TV18 poll had estimated the number to the tune of Rs 705.5 crore.

The total income of the bank for the quarter stood at Rs 8,946.96 crore against Rs 9,073.93 crore in Q3 FY20 and Rs 8,731.05 crore in Q2 FY21

Gross NPA stood at Rs 3,650.6 crore against Rs 4,532.2 crore in Q2 FY21. It stood at 1.74 percent of the total assets against 2.21 percent in Q2 FY21.

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Net NPA came at Rs 464.2 crore against Rs 1,055.8 crore in Q2 FY21. It stood at 0.22 percent of the total assets against 0.52 percent in Q2 FY21.

NII grew 10.8 percent to Rs 3,406.1 crore against Rs 3,074 crore in Q3 FY20.



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Moneycontrol News
first published: Jan 29, 2021 05:00 pm
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