IndusInd Bank’s Q3 net profit rises 17% to Rs 2,301 crore

Private sector lender IndusInd Bank on Thursday reported 17 per cent rise in net profit to Rs 2,301 crore for the third quarter ended December 2023. The bank had reported a net profit of Rs 1,964 crore in the October-December quarter of the last financial year. A regulatory filing.

The lender’s total income rose to Rs 13,968 crore during the quarter under review from Rs 11,534 crore in the year-ago period. Gross non-performing assets (NPAs) declined to 1.92 per cent of total advances during the third quarter of the current financial year from 2.06 per cent in the same period a year ago.

The bank’s net NPA also declined from 0.62 per cent of total assets to 0.57 per cent in the latest December quarter.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)