IndusInd Bank reported a bigger-than-expected fourth-quarter profit on Friday, as the pace of additions to bad loans slowed, with provisions also dropping.
The private lender posted a profit of ₹594 crore for the quarter ended March 31, beating analysts’ expectation of ₹389 crore, according to LSEG-compiled data. In the year-ago quarter, the bank had reported its biggest-ever quarterly loss of ₹2,329 crore due to years of misaccounting of internal derivative trades.
Analysts said stress in segments such as microfinance, where IndusInd Bank grappled with high bad loans, would ease during the quarter, as the bank tightened lending, helping limit new bad loans and improving its asset quality. Its gross slippages dropped 64 per cent on-year and 29 per cent sequentially to ₹1,825 crore.
IndusInd’s provisions and contingencies declined 38.6 per cent year-on-year and 29 per cent from the previous quarter to ₹1484 crore.
Shriram Finance
Non-banking lender Shriram Finance on Friday reported a 40 per cent jump in consolidated profit to ₹3,021 crore during the March quarter, and flagged risks from the West Asia crisis and the likely monsoon deficit to its businesses.
The company is maintaining its 18 per cent assets under management (AUM) growth target for FY27 despite the headwinds that it will be facing, a top company official said.
Hind Zinc
Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported a record profit of ₹5,033 crore for March quarter FY26 on the back of higher zinc and silver prices and increased production.
The profit was about 68 per cent higher from ₹3,003 crore in the year-ago January-March period.