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IndusInd Bank made great profit, net profit increased by 61 percent, shares also rose today

IndusInd Bank Quarterly Result: Private sector IndusInd Bank has also released its quarterly results. The bank’s net profit has increased by 60.5 per cent to Rs 1,631.02 crore in the April-June quarter of the financial year 2022-23. The profit of the bank has increased mainly due to reduction in bad loans. IndusInd Bank had made a net profit of Rs 1,016.11 crore in the April-June quarter of the financial year 2021-22.

By how much did the total income of the company increase?
The bank has given information about this to the stock exchanges on Wednesday. The company said in the information sent to the stock market that its total income has increased to Rs 10,113.29 crore in the April-June quarter. It was Rs 9,298.07 crore in the same period a year ago.

Improvement in NPAs
The interest income of the bank has increased by 9.5 per cent to Rs 8,181.77 crore in the quarter under review. The bank’s gross non-performing assets (NPA) improved to 2.35 per cent at the end of June, from 2.88 per cent at the end of June, 2021.

NPA stood at Rs 1,661.21 crore
Apart from this, the net NPA of the bank has come down from 0.84 per cent i.e. Rs 1,759.59 crore to 0.67 per cent i.e. Rs 1,661.21 crore on an annual basis. The bank’s provision for bad loans and contingencies declined to Rs 1,250.99 crore during the quarter. It stood at Rs 1,779.33 crore in one year.

The stock closed at the level of 878
Apart from this, if we talk about the share price of the company, then today i.e. on Wednesday, the stock of the company has increased by 1.14 percent to the level of 878. At the same time, the company’s stock has given a return of 9.91 percent in the last one month.

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