Home >Companies >Company Results >IndusInd Bank Q1 results: Net profit almost doubles to 1,016 cr

IndusInd Bank on Tuesday reported a consolidated net profit of 1,061 crore, showing a rise of 99.2% year-on-year for the quarter ended 30 June, 2021. The lender had posted a net profit of 510 crore in the year-ago period.

The bank's net interest income (NII) also rose 8% year-on-year to 3,563.7 crore from 3,309 crore in Q1FY21, IndusInd Bank said in a regulatory filing.

The lender's total income in 7% on-year to 9,356 crore.

Moreover, IndusInd Bank's asset quality deteriorated as gross non-performing a(GNPA) ratio climbed to 2.88% in Q1FY22 from 2.67% in the previous quarter (Q4FY21). Additionally, the net NPA ratio rose to 0.84% from 0.69%.

The bank's consolidated financial statement comprises statements of IndusInd Bank, Bharat Financial Inclusion Ltd (fully owned subsidiary), and IndusInd Marketing and Financial Services Pvt Ltd (associate company).

On a standalone basis, the lender's net profit jumped over two times to 974.95 crore in the June 2021 quarter, compared with 460.64 crore in the year-ago period.

Income rose to 9,355.77 crore, from 8,680.92 crore a year ago, the bank said.

Shares of IndusInd Bank ended 1% lower at 971.50 on the BSE today.

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