IndusInd bank reported a 49.5% YoY jump in its consolidated profits for the quarter ended on December 2021. In the same period last year, the bank reported a profit of Rs 830.41 crores. Total income rose by 8% YoY to Rs 9,614.34 crores.
However, the Bank’s Gross and Net NPAs rose to 2.48% and 0.71%, signalling a deterioration in the quality of its assets. Its loans increased by 10% to Rs 2.29 lakh crores while its other income grew 14% YoY. Core fees grew by 9% to Rs 1,519 crores. Its deposits grew 19% YoY to Rs 2.84 lakh crores during the quarter.
The bank’s CASA ratio stood at 42% while the bank’s shares fell over 3% after the results.
Highlight by Aman Agarwal.