IndusInd Bank Profit Beats Estimates on Lower Provisions
The lender reported a fourth-quarter profit of 5.33 billion rupees as asset quality improved. Lower provisions helped the bank exceed analyst expectations.
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INDUSIND BANK LTD has surpassed market expectations for the fourth quarter, reporting a significant rise in profit driven by a reduction in provisions for potential bad loans and a steady recovery in asset quality. The fifth-largest private lender in India by market capitalization posted a net profit of 5.33 billion rupees ($56.55 million) for the period ending March 31. This result comfortably exceeded the 3.89 billion rupees projected by analysts, according to data compiled by LSEG.
