IndusInd Bank Q4 results: Net profit rises 15%, lender declares ₹16.50 dividend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Private sector lender IndusInd Bank on Thursday (April 25) reported 15% rise in net profit to ₹2,349 crore for the January-March quarter of financial year (FY) 2023-24. This figure exceeded the expectations outlined in a CNBC-TV18 poll, which had projected a profit of ₹2,322.7 crore.

The bank’s net interest income (NII) stood at ₹5,376.4 crore, up by 13.9% from ₹4,669.5 crore in the corresponding quarter of the previous financial year.

IndusInd Bank’s performance was propelled by an 18% growth in net loans, outpacing the 14% growth in deposits.

The gross non-performing asset (NPA) ratio stood at 1.92%, showing a decline from 1.98% recorded in the same quarter last year.

Similarly, the net NPA ratio improved to 0.57%, down from 0.59% on a year-on-year basis.

Operating expenses for the quarter ended March 31, 2024 increased by 24% to ₹3,803 crore as against ₹3,066 crore for the corresponding quarter of previous year.

Further, IndusInd Bank announced a dividend of ₹16.50 per equity share of ₹10 face value.

The bank’s shares closed 1.5% higher at ₹1,496.85 apiece on the BSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow