 "IndusInd Bank")
IndusInd Bank shares surged 8 per cent to Rs 1,640 in early trade on Thursday, recovering 18 per cent from Wednesday's low of Rs 1,386, on the BSE on expectation that the bank would return to normalcy in terms of earnings momentum after the entire exposure to IL&FS was classified as non-performing asset (NPA) in the fourth quarter of fiscal 2018-19 (Q4FY19).
The bank reported 62 per cent fall in net profit at Rs 360 crore for Q4FY19 due to higher provisioning for loans extended to IL&FS. It had a profit of Rs 953 crore in the year-ago quarter.
The bank reported 62 per cent fall in net profit at Rs 360 crore for Q4FY19 due to higher provisioning for loans extended to IL&FS. It had a profit of Rs 953 crore in the year-ago quarter.
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