April 18, 2024

The financial institution’s gross non-performing asset (NPA) stood at xx p.c, down from XX p.c recorded in the identical quarter final yr

Non-public sector lender IndusInd Financial institution on January 18 reported a web revenue of Rs 2,301 crore for the October-December quarter of monetary yr (FY) 2023-24, clocking a 17.1 p.c rise from Rs 1,963.64 crore within the yea-ago interval.

The financial institution’s gross non-performing asset (NPA) stood at 1.92 p.c, down from 2.06 p.c recorded in the identical quarter final yr. Then again, web NPA for the quarter stood at 0.57 p.c, enhancing from 0.662 p.c on a year-on-year foundation.

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Following the earnings, shares of IndusInd Financial institution closed 1.82 p.c down at Rs 1,613.15 apiece on BSE as we speak.

Web Curiosity Revenue for the quarter ended December 31, 2023, at Rs 5,296 crores, grew by 18 p.c YoY and 4 p.c QoQ. Web Curiosity Margin for Q3 of FY24 stood at 4.29 p.c as towards 4.27 p.c for Q3 of FY23 and 4.29 p.c for Q2 of FY24.

Sumant Kathpalia, Managing Director & CEO, IndusInd Financial institution mentioned” Indian economic system continues to indicate sturdy momentum delivering actual GDP progress of seven.6 p.c in Q2. The regulatory and monetary insurance policies have been successfully mitigating geo-political uncertainties within the international economic system. IndusInd Financial institution too continues to take part within the wholesome financial outlook.”
He additional added that the financial institution’s mortgage e book grew by 20 p.c YoY pushed by sturdy retail section rising 24 p.c YoY. The asset high quality metrics remained secure with GNPA at 1.92 p.c and NNPA at 0.57 p.c. The Financial institution has wholesome capital adequacy with CRAR at 17.86 p.c as of Dec 2023. The Financial institution stays on observe in executing its technique of delivering Development, Granularity and Governance.”