IndusInd Bank on Wednesday reported a 57 per cent on-year rise in July-September standalone net profit to Rs 1,805.22 crore driven by a healthy rise in loan disbursement and net interest income.
On a sequential basis, the private sector bank’s net profit registered an 11 per cent increase from Rs 1,631.02 crore in April-June. The bank’s net profit was slightly higher than that estimated by a Bloomberg analyst compilation.
In the second quarter of the current financial year, IndusInd Bank’s net interest income, or the difference between interest earned and interest expended, rose 18 per cent on-year and 4 per cent quarter-on-quarter to Rs 4,302 crore. The bank’s net interest margin was at 4.24 per cent, up 17 bps YoY and 3