IndusInd Bank Q4 results: Net profit jumps 15% to ₹2,349 crore, ₹16.50 dividend

IndusInd Bank Q4 results: IndusInd Bank posted a 15 per cent rise in consolidated net profit at ₹2,349 crore for the fourth quarter ended March 2024. The lender had logged a profit of ₹2,043 crore in the year-ago period, it said.

IndusInd Bank Q4 results: Net profit jumps 15% to ₹2,349 crore, ₹16.50 dividend

Here's a look at IndusInd Bank Q4 results:

Read more: ACC Q4 results: Net profit rises to ₹748.54 crore, revenue jumps 12.6% YoY

1. Total income increased to ₹14,707 crore during the quarter against ₹12,174 crore in the same period last year, the bank said.
2. The bank earned an interest income of ₹12,199 crore during the quarter compared to ₹10,020 crore in the same period a year ago. Read more: Tech Mahindra Q4 results: PAT falls 41% YoY to ₹661 cr; ₹28/share dividend declared
3. IndusInd Bank's board recommended a dividend of ₹16.50 per equity share of ₹10 each fully paid up out of the net profits for the year ended March 31, 2024.
4. The bank reported an improvement as gross non-performing assets (NPAs or bad loans) fell to 1.92 per cent of gross advances as of March 2024 from 1.98 per cent by the year-ago period. Read more: Vedanta Q4 net profit falls 41% to ₹1,549 crore
5. Net NPAs came down to 0.57 per cent from 0.59 per cent at the end of fourth quarter of the previous fiscal.
6. Provisions (other than tax) contingencies declined to ₹950 crore compared to ₹1,030 crore in the same quarter a year ago.

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