News Karnataka
Tuesday, December 05 2023
Business News

IndusInd Bank posts net profit of Rs 2,123.62 crore for Q1

IndusInd Bank posts net profit of Rs 2123p62 crore for Q1
Photo Credit : IANS

Chennai:  Higher income and lower provisions enabled IndusInd Bank Ltd to close the first quarter of FY24 with a net profit of Rs 2,123.62 crore.

However, the bank’s gross and net non-performing assets (NPA) numbers saw an increase during the period under review as compared to the previous year’s corresponding period.

In a regulatory filing, the private bank said it closed Q1FY24 with a net profit of Rs 2,123.62 crore and a total income of Rs 12,939.42 crore up from Rs 1,603.29 crore of profit and a total income of Rs 10,110.47 crore logged during Q1FY23.

For the period under review, the bank had provided Rs 991.57 crore under provisions and contingencies down from Rs.1,250.99 crore provided during the corresponding period of the previous year. As on June 30, the Gross NPA stood at Rs 5,941.12 crore (again Rs 5,932.90 crore on June 30, 2022) and the net NPA was at Rs 1,746.93 crore (Rs 1,661.21 crore on June 30, 2022).

Share this:
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Editor's Pick

Find the best odds at 10Cric and IPL Betting 2023! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp