NEW DELHI, Jan. 17 -- Investors didn't like IndusInd Bank Ltd's December quarter performance one bit. The angst is evident in the nearly 4% fall in the stock on Tuesday in reaction to the lender's quarterly results.
Net profit missed Street estimates but this was the least of the worries. The reasons behind this profit miss was an increase in provisioning, which was acceptable as the lender bought more protection from potential risks by shoring up its provisions for stressed assets. With accelerated provisioning, the private sector bank beefed up its provision coverage ratio to 53%. But that is one part. Increase in provisions was inevitable for IndusInd Bank as its slippages surged. Fresh slippages doubled from last year and are up 76% fr...