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IndusInd Bank Ltd. reported an operating profit of Rs 29.6 billion, up 7% YoY and 4% QoQ.
The overall net operating income growth was subdued at 4% YoY mainly on account of 8% YoY decline in non-interest revenue.
Sequentially, net interest income growth picked up, rising by 4% QoQ (up 11% YoY) despite 4 basis points net interest margin compression (QoQ) on account of interest reversal on pro-forma slippages.
The impact of compression in overall yields was 30bps QoQ (55bps in consumer finance, 7bps in corporate banking), which was to some extent negated by the decline in CoD (down 24bps QoQ, 115bps YoY).
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