Private sector lender IndusInd Bank on Tuesday reported a 30 per cent rise in net profit at Rs 2,124 crore for the June quarter, helped by a decline in bad loans.
The private sector lender had posted a net profit of Rs 1,631 crore in the year-ago period.
Total income in the first quarter of the current fiscal rose to Rs 12,939 crore from Rs 10,113 crore in the same period a year ago, IndusInd Bank said in a regulatory filing.
Interest earned by the bank grew to Rs 10,730 crore over Rs 8,182 crore in June 2022.
The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 1.94 per cent of gross advances at the end of the June quarter from 2.35 per cent a year ago.
Similarly, net NPAs or bad loans, eased to 0.58 per cent as against 0.67 per cent in the year-ago period.
Capital adequacy ratio of the bank increased to 18.40 per cent from 18.14 per cent in the same quarter of FY23.
Published 18 July 2023, 14:19 IST