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The private sector lender's net interest income (NII) rose 4% year-on-year to ₹4,569 crore at the end of the September quarter from ₹4,409 crore in the same quarter last year, while other income jumped 36% to ₹2,248 crore from ₹1,651 crore. The improvement in profitability was largely driven by a 54% year-on-year decline in provisions and contingencies to ₹1,223 crore from ₹2,631 crore, reflecting moderation in credit stress. Gross slippages, or fresh additions to bad loans, declined 42% during the September quarter to ₹1,460 crore from ₹2,537 crore a year earlier. Read more: IndusInd Bank Q2 Results: Lender posts profit of Rs 1,176 crore vs Rs 445 crore loss a year ago "(The quarter) reflects the growing strength of the franchise and the progress we have made in rebuilding momentum across the bank," Rajiv Anand, MD, IndusInd Bank, said after the earnings. "Growth has strengthened, profitability has improved, asset quality trends remain encouraging, and our funding profile is becoming more granular and resilient." Asset quality improved, with the gross non-performing asset (GNPA) ratio declining 87 basis points to 2.7% from 3.6% a year earlier. The net NPA ratio fell 21 basis points to 0.8% from 1.0%. Read more: Jio IPO breaks 12 records: Rs 4.5 lakh crore bids, highest applications and more Despite the improvement in earnings, net interest margins remained under pressure. NIM narrowed by 9 basis points year-on-year to 3.2% from 3.3%, with the bank attributing the pressure to mobilisation of foreign currency non-resident (FCNR-B) deposits. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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