IndusInd Bank shares fall 4 pc after Q3 earnings

Shares of IndusInd Bank on Tuesday fell 4 per cent after the company's December quarter earnings failed to lift investor sentiment following a rise in non-performing assets. The scrip dropped 3.85 per cent to close at Rs 1,481.10 on the BSE. During the day, it tanked 4.53 per cent to Rs 1,470.60.

It was the worst hit among the BSE 30-share index components. On the National Stock Exchange (NSE), it declined 3.99 per cent to close at Rs 1,478.20.

In terms of traded volume, 5.09 lakh shares were traded on the BSE and over 1.5 crore shares on the NSE during the day. Private sector lender IndusInd Bank on Tuesday posted a 32 per cent rise in net profit to Rs 1,300.20 crore for the December 2019 quarter.

The bank had registered a profit of Rs 985.03 crore in the year-ago period. Its total income during the period under review increased to Rs 9,073.93 crore from Rs 7,232.32 crore in the third quarter of the previous fiscal, IndusInd Bank said in a regulatory filing.

Gross non-performing assets (NPAs) rose to 2.18 per cent of the total advances at the end of December quarter of the current financial year as against 1.13 per cent by the end of same period a year ago. Net NPAs increased to 1.05 per cent in the quarter from 0.59 per cent of the total assets in the year-ago period.

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