IndusInd Bank's Q1 Financial Performance

MUMBAI: IndusInd Bank has made a return to profitability in the first quarter of FY25, albeit with a significant 72.2% drop in net profit, falling to Rs 604.1 crore from Rs 2,170.7 crore in the previous year. This sharp decline is attributed to increased provisions and a squeeze in core lending profitability, despite a more than threefold increase in other income.

The bank had previously reported a loss of Rs 2,329 crore in the quarter before, following derivatives losses that led to the resignation of its managing director and deputy managing director. Total income saw a slight decrease of 3.8% to Rs 14,420.8 crore, with interest earned dropping by 2.3% to Rs 12,263.9 crore. Conversely, interest expenses rose by 6.8% to Rs 7,624.1 crore.

Looking Forward

As IndusInd Bank navigates through these challenging times, stakeholders are keenly watching its next moves to rebound and stabilize its financial health.