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IndusInd Bank’s Q1 FY24 net profit surges by 32.5% to ₹2,123.6 Crore


IndusInd Bank’s first-quarter financial report for FY24 displayed impressive growth with a standalone net profit of ₹2,123.6 crore, up by 32.5% compared to the same quarter last year.

The Pre-Provision Operating Profit (PPOP) also rose by 12.8% to ₹3,830 crore. Provisions and Contingencies declined to ₹991.57 crore, and the bank’s asset quality remained stable with gross non-performing assets (GNPA) at ₹5,941.12 crore and net non-performing assets (NNPA) at ₹1,746.93 crore.

The Capital Adequacy Ratio – Basel III improved to 18.40%. Despite the positive results, the bank’s shares experienced a slight dip of 0.17% on the BSE. IndusInd Bank’s performance demonstrates resilience in a challenging market, building confidence in investors and stakeholders.

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