IndusInd Bank Q1 FY25 results, net profit at 2% YoY
![IndusInd Bank Q1 FY25 results, net profit at 2% YoY](https://www.psuconnect.in/sdsdsd/jpg_20240726_180321_0000.jpg)
The Board of Directors of IndusInd Bank Limited approved the financial results of the Bank for the Quarter ended June 30, 2024, at their meeting held in Mumbai on Friday, July 26, 2024.
The Net Interest Income (NII) grew by 11% YoY to Rs 5,408 crores from Rs 4,867 crores Net Profit for the quarter ended June 30, 2024, was Rs 2,171 crores as compared to Rs 2,124 crores during the corresponding quarter of the previous year up by 2% YoY.
The Quarterly Net Profit grew by 2% YoY to Rs 2,171 crores from Rs 2,124 crores.
Read Also : R.K. Chaudhary, CMD, NHPC met Chowna Mein, Hon’ble Dy. CM, Arunachal PradeshThe Provision Coverage Ratio was consistent at 71% as at June 30, 2024. Provisions and contingencies for the quarter that ended June 30, 2024, were Rs 1,050 crores as compared to Rs 991 crores for the corresponding quarter of the previous year, an increase of 6% YoY. Total loan-related provisions as on June 30, 2024 were at Rs 7,537 crores (2.2% of loan book).
The loan book quality remains stable. Gross NPA were at 2.02% of gross advances as on June 30, 2024 as against 1.92% as on March 31, 2024. Net NPA were 0.60% of net advances as on June 30, 2024 as compared to 0.57% as on March 31, 2024.
Read Also : State Coal Minister inaugurates new solar plant at CCL’s Piparwar AreaCASA deposits increased to Rs 1,46,134 crores with Current Account deposits at Rs 48,475 crores and Savings Account deposits at Rs 97,659 crores. CASA deposits comprised 37% of total deposits as at June 30, 2024.
The Bank’s Total Capital Adequacy Ratio as per Basel III guidelines stands at 17.55% as on June 30, 2024, as compared to 18.40% as on June 30, 2023. Tier 1 CRAR was at 16.15% as on June 30, 2024 compared to 16.44% as on June 30, 2023. Risk-weighted assets were at Rs 3,88,838 crores as against Rs 3,34,370 crores a year ago.
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