IndusInd Bank reported consolidated net profit of ₹12.42 billion for the three months through Sept. 30, turning around a ₹4.37 billion loss from a year earlier as provisions fell and lending expanded. The board approved the results at its Oct. 23 meeting.
The bank’s group results bring in Bharat Financial Inclusion Limited, a wholly owned unit, along with the associate IndusInd Marketing and Financial Services Private Limited.
Provisions and contingencies, excluding tax, totaled ₹12.23 billion, down 54% from ₹26.31 billion a year earlier. Fee and other income gained 36% to ₹22.48 billion. Net interest income increased 4% to ₹45.69 billion from ₹44.09 billion, while pre-provision operating profit rose 40% to ₹28.74 billion.
Asset-quality measures also improved. Gross nonperforming assets were 2.73% of gross advances at Sept. 30, compared with 3.60% a year earlier and 3.25% at June 30. Net nonperforming assets stood at 0.83%, down from 1.04% a year earlier and 0.95% in June.
Deposits reached ₹4.29 trillion, up 10% year over year, and advances totaled ₹3.63 trillion, an 11% increase. The net interest margin (NIM) was 3.23%, compared with 3.32% a year earlier. The bank’s investor presentation said mobilizing FCNR(B) deposits affected the margin. On its Q2 analyst call, the bank said it had raised $3.51 billion in FCNR(B) deposits through a Reserve Bank of India swap window.
Reuters reported that the latest double-digit growth in both lending and deposits marked the first return to that pace since derivatives-accounting discrepancies surfaced in March 2025. The news agency said those issues reduced the bank’s net worth and prompted a leadership change. Managing Director and CEO Rajiv Anand said on the post-earnings call that he saw “upside to NIMs from where we are today” as deposits are directed toward higher-yielding assets, Reuters reported.
The bank said it plans to add more than 100 branches in the second half of fiscal 2027.
