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Home STOCKS IndusInd Bank Q1 benefits: Net profit falls 64% YoY to Rs 510...

IndusInd Bank Q1 benefits: Net profit falls 64% YoY to Rs 510 crore, beats Street estimates

IndusInd Bank on Tuesday documented a 64.37 per cent yr-on-year (YoY) tumble in consolidated net profit at Rs 510.34 crore for the quarter ended June 30. The lender had posted a net profit of Rs 1,432.50 crore in the corresponding quarter very last calendar year.
Analysts in an ET Now poll had approximated the profit figure at Rs 400 crore.
The internet interest income (NII) for the quarter was at Rs 3,309 crore against the estimates of Rs 3,100 crore. The NII in the corresponding quarter past yr was at Rs 2,844 crore.
Full provisions for Q1FY21 was at Rs 2,259 crore, versus Rs 2,440 crore stored aside in the former quarter. A yr ago, the provisions were at Rs 431 crore.
The gross lousy asset ratio spiked to 2.53 for each cent from 2.45 for each cent in March quarter and 2.15 per cent in June quarter last calendar year.
Web poor asset ratio stood at .86 for each cent from .91 per cent in the past quarter and 1.23 for each cent in the corresponding quarter, previous 12 months.

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