IndusInd Bank Q3 Results: Net profit rises 17% to ₹2,297 crore, NII up 18% YoY; 5 key highlights
IndusInd Bank Q3 Results: IndusInd Bank announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 17.3 per cent in standalone net profit at ₹2,297.8 crore, compared to ₹1,959.2 crore in the year-ago period. For for nine months ended December 31, 2023, the leading private lender's net profit stood at ₹6,628 crore, compared to ₹5,400 crore in the corresponding period last year.
The private lender reported reported robust earnings in the December quarter driven by strong loan growth and stable asset quality. At ₹3,27,057 crore, the bank registered a loan growth of 20 per cent year-on-year (YoY), while deposits grew 13 per cent annually.
The bank's net interest income (NII) - the difference between interest earned and interest expended for the December quarter rose 17.8 per cent at ₹5,296 crore, compared to ₹4,495 crore in the year-ago period. The net interest margin (NIM) in the December quarter stood at 4.29 per cent, compared to 4.27 per cent in the same period last year.
The operating expenses for the December quarter rose 27 per cent to ₹3,650 crore as against ₹2,885 crore in the year-ago period. MORE TO COMEMilestone Alert!
Livemint tops charts as the fastest growing news website in the world
