IndusInd Bank Q1 net profit up 2% to Rs 2,171 cr

New Delhi: Private sector IndusInd Bank on Friday posted a marginal 2 per cent rise in net profit at Rs 2,171 crore for the first quarter ended June 30.

The lender had earned a net profit of Rs 2,124 crore in the year-ago period.

During the quarter, the bank's total income increased to Rs 14,988 crore, as against Rs 12,939 crore a year ago, IndusInd Bank said in a regulatory filing.

Interest income grew to Rs 12,547 crore during the period under review, from Rs 10,730 crore in the corresponding quarter a year ago.

On the asset quality side, the bank's Gross Non-Performing Assets (NPAs) worsened to 2.02 per cent of gross advances as of June 30, 2024, from 1.94 per cent by the end of first quarter of the previous fiscal.

Net NPAs also rose to 0.60 per cent of the advances, from 0.58 per cent at the end of first quarter of last year.

As a result, provisions other than tax and contingencies rose to Rs 1,050 crore, as against Rs 992 crore earmarked during the same quarter a year ago.

The Capital Adequacy Ratio (CRAR) marginally declined to 17.55 per cent, as compared to 18.40 per cent on June 30, 2023.