IndusInd Bank Q4 Results: Consolidated Net Profit Zooms 51% To Rs 1,401 Crore
IndusInd Bank's total income rose 6.1 per cent to Rs 9,764.91 crore in the fourth quarter of the last fiscal year
New Delhi: IndusInd Bank on Friday reported a 51 per cent increase in consolidated net profit at Rs 1,400.64 crore in the three months ended March.
The private sector lender had posted a net profit of Rs 926.22 crore in the same quarter of the previous fiscal year.
In the fourth quarter of the last fiscal, the bank's total income rose 6.1 per cent to Rs 9,764.91 crore. The same stood at Rs 9,199.71 crore in the year-ago period, according to a regulatory filing.
For the full year 2021-22, the bank's consolidated net profit surged 64 per cent to Rs 4,805.03 crore. In the same period a year ago, it was at Rs 2,930.10 crore.
The total income climbed to Rs 38,230.07 crore from Rs 35,500.68 crore.
On the asset front, gross Non-Performing Assets (NPAs) fell to 2.27 per cent of the gross advances as of March 31, 2022. At the end of March last year, it was at 2.67 per cent.
In value terms, the gross NPA of the bank stood at Rs 5,517.15 crore compared to Rs 5,794.99 crore in the year-ago period.
Net NPAs were down at 0.64 per cent (Rs 1,529.83 crore) from 0.69 per cent (Rs 1,476.57 crore).
The bank said provisions for bad loans and contingencies for Q4FY22 fell to Rs 1,463.52 crore from Rs 1,865.69 crore set aside in the year-ago quarter.
The consolidated result include financial results of the bank, subsidiary Bharat Financial Inclusion and associate company IndusInd Marketing and Financial Services Pvt Ltd.
The lender said its board also approved a dividend of Rs 8.50 per equity share for 2021-22, subject to approval of shareholders at the ensuing annual general meeting.
IndusInd Bank scrip closed 0.94 per cent down at Rs 978.20 apiece on the BSE.
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