IndusInd Bank clocks 99% rise in consolidated net profit at Rs 1,016 crore

Private sector lender Ind­usInd Bank’s consolidated net profit almost doubled year-on-year (YoY) to Rs 1,016 crore in the June quarter compared to Rs 510 crore. Its standalone profit more than doubled to Rs 974.95 crore, aided by lower provisions and higher other income.
 
Net interest income was up 8 per cent YoY to Rs 3,564 crore, from Rs 3,309 crore in Q1FY21. Net interest margin was at 4.06 per cent, from 4.28 per cent for Q1FY21, due to lower credit offtake and surplus liquidity placed under repo with the RBI. Other income was up 18 per cent YoY to