IndusInd Bank Q1FY24 results: Net profit up 30%, gross bad loans at 1.94%

IndusInd Bank reported a 30.2 per cent jump in its net consolidated profit for the quarter that ended on June 30 to Rs 2,124.50 crore from Rs 1,631.14 crore in the same quarter last year. In the previous quarter, which ended on March 31, the net profit was Rs 2,043.44 crore. 

The bank's gross non-performing assets (GNPA) fell to 1.94 per cent from 2.35 per cent a year ago. In the previous quarter, its GNPAs were 1.98 per cent. 

The net NPAs fell to 0.58 per cent from 0.67 per cent during the period. 

The results also showed that the bank's provisions and contingencies, other than tax, stood at Rs 991.57 crore at the end of June.