IndusInd Bank reports ₹2,298 crore Q3 net profit, a 17.3% surge from last year
IndusInd Bank on Thursday reported a net profit of ₹2,298 crore for the third quarter ending December 31, a surge by 17.3 per cent from the previous year.
The lender beat the Q3 profit expectations, helped by strong loan growth, Reuters reported.
According to the report, the bank’s loan disbursements grew 20 per cent year-on-year, while the deposits surged by 13 per cent.
The company’s net interest margin or the difference between the interest obtained on loans and interest paid on deposits expressed as percentage, edged up to 4.29% from 4.27% a year ago, and was unchanged from the previous quarter.
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Atul Tiwari is a seasoned journalist at Mumbai Times, specializing in city news, culture, and human-interest stories. With a knack for uncovering compelling narratives, Atul brings Mumbai’s vibrant spirit to life through his writing.
