IndusInd Financial institution on Wednesday posted 22 per cent rise in consolidated internet revenue at Rs 2,202 crore for September quarter 2023-24, aided by decline in unhealthy loans and an increase in curiosity revenue. The lender had logged a revenue of Rs 1,805 crore within the year-ago interval.
Complete revenue elevated to Rs 13,530 crore in the course of the quarter underneath evaluate, as towards Rs 10,719 crore in the identical interval final yr, IndusInd Financial institution stated in a regulatory submitting. The financial institution earned an curiosity revenue of Rs 11,248 crore in the course of the quarter, as in comparison with Rs 8,708 crore in the identical interval a yr in the past.
On the asset high quality entrance, the lender reported an enchancment as gross non-performing property (NPAs or unhealthy loans) fell to 1.93 per cent of gross advances as of September 2023 from 2.11 per cent by the year-ago similar interval. Likewise, internet NPAs got here all the way down to 0.57 per cent from 0.61 per cent.
In consequence, provisions (apart from tax) contingencies declined to Rs 974 crore as in comparison with Rs 1,141 crore in the identical quarter a yr in the past. The Capital Adequacy Ratio improved to 18.21 per cent on the finish of September 2023 as towards 18.01 per cent a yr in the past.
Bandhan Financial institution Q2 End result
Then again, Bandhan Financial institution on Wednesday logged over threefold bounce in internet revenue at Rs 721 crore for the second quarter ended September 30, 2023. The Kolkata-headquartered personal sector lender had posted a revenue of Rs 209.30 crore for a similar quarter a yr in the past. Complete revenue throughout July-September this fiscal rose to Rs 5,032 crore as towards Rs 4,250 crore in the identical interval of 2022-23, Bandhan Financial institution stated in a regulatory submitting. Internet curiosity revenue grew to Rs 2,443 crore in Q2 FY24 from Rs 2,193 crore in Q2 FY23.
On the asset high quality entrance, the lender reported deterioration as gross non-performing property (NPAs or unhealthy loans) rose to 7.32 per cent of gross advances at end-September 2023 from 7.19 per cent by the tip of second quarter of 2022-23. Likewise, internet NPAs or unhealthy loans additionally elevated to 2.32 per cent, from 1.86 per cent.