Mumbai, July 28 -- Private lender IndusInd Bank on Tuesday reported a rise of 99 per cent, on a year-on-year basis, in its consolidated net profit for the first quarter (Q1) of 2021-22.
Its net profit during the quarter under review rose to Rs 1,016 crore from Rs 510 crore in the corresponding period of last fiscal.
Net interest income for the quarter under review rose to Rs 3,564 crore, up by 8 per cent from Rs 3,309 crore for the quarter ended June 30, 2020.
As per the lender, net interest margin for Q1FY22 stood at 4.06 per cent from 4.28 per cent for Q1FY21 due to lower credit offtake and surplus liquidity placed under repo with the RBI.
Furthermore, the bank said the loan book quality was stable.
According to the bank, gross non-p...