Induslnd Bank net jumps 73%

IndusInd Bank reported robust second-quarter earnings for the financial year 2021-22 (Q2FY22) on a year-on-year (YoY) basis in both profit and net interest income (NII) terms, as well as the bank’s asset quality too improved sequentially on a consolidated basis.

Index heavyweight’s profit surged almost 73 per cent to Rs 1146.7 crore in Q2FY22 as compared to 663.1 crore in the same quarter a year-ago period. Similarly, NII grew nearly 12 per cent to Rs 3658.4 crore in the second quarter of FY22 as against Rs 3278 crore in the corresponding quarter in FY21.

The bank’s asset quality improved too as gross non-performing assets (NPA) came at 2.77 per cent versus 2.88 per cent quarter-on-quarter (QoQ) and net NPA stood at 0.80 per cent versus 0.84 per cent sequentially, IndusInd Bank said in its earning statement.