IndusInd Bank's Q2 net profit rises 57% to 1,805 cr, NII rises 18%

Should see 18-20% credit growth in FY23 says Sumant Kathpalia, MD & CEO, IndusInd Bank

IndusInd Bank on Wednesday reported a 57 per cent on-year rise in July-September standalone net profit to Rs 1,805.22 crore driven by a healthy rise in loan disbursement and net interest income.

On a sequential basis, the private sector bank’s net profit registered an 11 per cent increase from Rs 1,631.02 crore in April-June. The bank’s net profit was slightly higher than that estimated by a Bloomberg analyst compilation.

In the second quarter of the current financial year, IndusInd Bank’s net interest income, or the difference between interest earned and interest expended, rose 18 per cent on-year and 4 per cent quarter-on-quarter