Mumbai, Jul 28 (UNI) Private sector lender IndusInd Bank has reported a decline of 64.37 pc in its consolidated net profit for the quarter ended June 30,2020 at Rs.510.39 crores as against net profit of Rs.1432.54 crores for the period ended June 30, 2019.
Total income for the quarter under review was marginally up Rs.8682.17 crores during the period ended June 30, 2020 as compared to Rs.8624.62 crores during the quarter ended June 30, 2019.
The net interest income (NII) for the quarter was at Rs 3,309 crore against the estimates of Rs 3,100 crore. The NII in the corresponding quarter last year was at Rs 2,844 crore.
Total provisions for Q1FY21 was at Rs 2,259 crore, against Rs 2,440 crore kept aside in the previous quarter. A year ago, the provisions were at Rs 431 crore.
The gross bad asset ratio spiked to 2.53 per cent from 2.45 per cent in March quarter and 2.15 per cent in June quarter last year.
Net bad asset ratio stood at 0.86 per cent against 0.91 per cent in the previous quarter and 1.23 per cent in the corresponding quarter, last year.
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