IndusInd Bank has announced a significant 40% decline in net profit for the second quarter of fiscal year 2025, reporting Rs 1,331 crore, down from Rs 2,202 crore in the same period last year. Total income, however, increased to Rs 14,871 crore, compared to Rs 13,530 crore a year prior.
The bank's net interest income rose by 5% to Rs 5,347 crore for the July-September quarter. Despite the increase in income, the asset quality of the bank has worsened, with gross non-performing assets (NPAs) climbing to 2.11% of gross advances, up from 1.93% a year ago. Net NPAs also increased to 0.64%, compared to 0.57% in the previous year.
Consequently, provisions for bad loans surged to Rs 1,820 crore, significantly higher than Rs 974 crore recorded in the same quarter last year. Additionally, the bank's Capital Adequacy Ratio fell to 16.51%, down from 18.21% at the end of September 2023.