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IndusInd Bank Net Profit Doubles To Rs 1,016 Crore In June Quarter

IndusInd Bank Net Profit Doubles To Rs 1,016 Crore In June Quarter

IndusInd Bank reported a  net profit of Rs 1,016 crore on a consolidated basis in the April-June quarter of the financial year 2021-22, compared to Rs 510 crore in the corresponding quarter last year, marking a growth of 99 per cent year-on-year. The bank's net profit almost doubled in the first quarter of the current fiscal, driven by growth in retail loans and lower non-performing assets (NPA) provisions, according to a regulatory filing to the stock exchanges.

IndusInd bank's non-performing assets rose slightly to 2.88 percent of the gross advances by the end of June 2021, compared to 2.53 per cent by the year-ago period.