IndusInd Bank Q4 net up 51% to Rs 1,401 cr on lower provisions, higher NII

Net interest income increased by 13% YoY and 5 per cent sequentially to Rs 3,985 crore

Private sector lender IndusInd Bank reported a 51 per cent jump in net profits in January-March quarter, aided by lower provisions and higher net interest income. Its net profit for the quarter totalled to Rs 1,401 crore compared to Rs 926 crore in the year ago period. Analysts at Bloomberg had estimated a net profit of Rs 1,405 crore.

Net interest income (NII) of the lender increased by 13 per cent year on year (YoY) and 5 per cent sequentially to Rs 3,985 crore. Other income rose 7 per cent YoY to Rs 1,905 crore. Net interest margin (NIM), a measure