On January 31, IndusInd Bank said their standalone net profit for the third quarter of FY25 was ₹1401.28 crore, a 39% year-over-year decrease.
For the third quarter of the fiscal year 2024–25 (Q3 FY25), the private sector lender IndusInd Bank reported a 39% year-over-year (YoY) drop in standalone net profit to ₹1401.28 crore on Friday, January 31. During the same period in the previous fiscal year, the amount was ₹2,297.45 crore.
For the reviewed quarter, the standalone net interest income (NII) decreased by a little 1.27% year over year to ₹5228 crore.
In Q3 FY24, the net interest margin (NIM) was 4.29%; in Q3 FY25, it was 3.93%, a YoY decrease. The NIM fell even compared to the 4.08% reported in Q2 of FY25.
Savings deposits increased 6% YoY, while the company’s deposits increased 11% to ₹4,09,438 crore from ₹3,68,793 crore.
NPAs:
As of December 31, 2024, the Nifty 50 constituent’s gross non-performing asset (NPA) was 2.25%, down from 2.11% on September 30, 2024. As of December 31, 2024, net NPA was 0.68% of net advances, down from 0.64% on September 30, 2024.
As of December 31, 2024, the Provision Coverage Ratio remained stable at 70%. Compared to ₹969 crore for the same quarter last year, provisions and contingencies (other than tax) were ₹1,744 crore for the quarter that ended December 31, 2024. As of December 31, 2024, there were ₹8,792 crores in total loan-related provisions (2.4% of the loan book).
Compared to 2,728 branches/banking outlets and 2,939 onsite and offsite ATMs as of December 31, 2023, the Bank’s distribution network as of December 31, 2024, comprised 3,063 branches/banking outlets and 2,993 onsite and offsite ATMs. On December 31, 2024, there were 42 million customers.
“The Indian macro indicators suggest stability in economic activity levels after the slowdown in Q2,” Sumant Kathpalia, Managing Director & CEO, IndusInd Bank, stated in response to the performance. The dramatic rebound in the Bank’s retail disbursements also demonstrated this. As a result, the Bank’s loan book increased by 12% yearly. The Bank kept up its trend, with overall deposits growing by 11% annually and retail deposits expanding by 14%. At ₹3,601 crores (flat QoQ) and ₹1,402 crores (increased 5% QoQ), respectively, the operational and net earnings were steady. The Bank will adjust growth by trends in asset quality in unsecured firms, which it continues to monitor. Through its vehicle and microfinance operations, the Bank is in a strong position to profit from any fiscal and regulatory initiatives that promote rural and general economic activity.”
