IndusInd Bank slips 8% in two days on higher slippages in December quarter

IndusInd Bank missed analysts' estimate and reported 33 per cent y-o-y growth in profit after tax at Rs 1,300 crore

Shares of IndusInd Bank slipped 4 per cent to Rs 1,417 on the BSE on Wednesday. The stock has fallen 8 per cent in two days on concerns of higher slippages and slow loan growth in the October-December quarter (Q3FY20). The private sector lender's stock price has tanked 11 per cent from its Tuesday’s intra-day high level of Rs 1,587 on the BSE.

IndusInd Bank reported 33 per cent year on year (YoY) growth in profit after tax at Rs 1,300 crore. Analysts had estimated PAT of around Rs 1,400 crore owing to higher provisions.

The bank’s loan