IndusInd Bank Q2 Results FY 2023-24

IndusInd Bank Q2 24 Financial Result

IndusInd Bank Q2 24 Financial Result

IndusInd Bank’s financial report for the second quarter (Q2) of FY24 has unveiled impressive growth, with a year-on-year net profit surge of 22% to reach Rs 2,202 crore. This remarkable increase is primarily attributed to an 18% surge in core income, standing at Rs 5,076.7 crore, demonstrating the bank’s robust financial performance. Notably, the asset quality remained resilient, with a decrease in the gross non-performing asset (NPA) ratio to 1.93%, affirming effective risk management. Despite a marginal dip in share value, IndusInd Bank outperformed the Nifty 50, showcasing its potential for sustained growth. These results reflect the bank’s sound financial standing and optimism for the future.

gold image

Apply for Personal Loan with Quick Approval

IndusInd Q2 Result FY 23-24 Analysis

IndusInd Bank has released its Q2 FY24 financial results, showcasing impressive growth and stability in various key financial indicators. This blog will delve into the key highlights of the bank’s performance, offering insights into its net interest income, profit, asset quality, capital adequacy, and more.

Robust Growth in Net Interest Income (NII)

One of the standout achievements of IndusInd Bank in Q2 FY24 is its Net Interest Income (NII). The figures speak for themselves – a remarkable 18% Year-on-Year (YoY) growth, taking NII to Rs. 5,077 crores, up from Rs. 4,302 crores in the previous year. This impressive surge underscores the bank’s success in its lending and investment activities.

Net Interest Margin (NIM) and Yield on Assets

IndusInd Bank managed to maintain its Net Interest Margin (NIM) at 4.29% for Q2 FY24, reflecting effective interest rate management. Furthermore, the Yield on Assets increased to 9.69% for the same quarter, showcasing the efficient utilization of the bank’s asset base. These statistics indicate a bank that’s skillfully managing its resources.

Impressive Profit Growth

Profitability is often the litmus test for a bank’s operational efficiency. IndusInd Bank reported an astonishing 22% YoY growth in net profit for Q2 FY24, with figures reaching Rs. 2,202 crores, up from Rs. 1,805 crores during the corresponding period in the previous year. This substantial profit growth is a testament to the bank’s competence in running its operations effectively.

Deposit and Advances Growth

A bank’s ability to attract deposits and extend loans is pivotal. In this regard, IndusInd Bank performed exceptionally well, witnessing a 14% YoY growth in deposits, which reached Rs. 3,59,548 crores. Furthermore, advances saw an impressive 21% YoY increase, reaching Rs. 3,15,454 crores. These substantial growth figures underscore the bank’s strong customer confidence and the success of its lending activities.

Healthy Asset Quality

IndusInd Bank’s asset quality remained stable during Q2 FY24. The Gross Non-Performing Assets (NPAs) stood at 1.93%, while the Net NPAs were at a commendable 0.57% as of September 30, 2023. Additionally, the Provision Coverage Ratio (PCR) stood at 71%, demonstrating the bank’s prudent risk management practices. These statistics indicate a bank that is effectively managing its asset quality.

Capital Adequacy and CRAR

A strong capital base is essential for a bank’s growth and resilience. IndusInd Bank maintained a robust Capital Adequacy Ratio (CRAR) of 18.21% as of September 30, 2023. This figure represents a significant improvement from the previous year and highlights the bank’s commitment to maintaining a strong capital position. Such a sturdy financial base provides a solid cushion for future growth and unforeseen challenges.

Expanding Network

IndusInd Bank’s commitment to providing accessible banking services to its ever-growing customer base is evident through its expanded distribution network. With 2631 branches/banking outlets and 2903 ATMs, the bank is making banking services readily available to its 37 million customers. This expansion not only increases the bank’s reach but also enhances its customer-centric approach.

Forward-Looking Initiatives

In an era of digital transformation, IndusInd Bank has embraced forward-looking initiatives. It has launched the digital app “INDIE” and expanded services such as affluent banking, NRI banking, and home loans. These initiatives are aimed at supporting the bank’s long-term growth opportunities and catering to the diverse needs of its customers.

IndusInd Bank Share Price

The share price of IndusInd Bank has also seen some variations with the latest developments. The share price is at its near peak when we check the last 6 months to 1-year data. Let’s have a peek at the last 6 months performance:

Are you also looking for a Personal Loan from IndusInd Bank? Check your eligibility and apply for your IndusInd Loan with Buddy Loan!


IndusInd Bank’s Q2 FY24 financial results stand as a testament to its robust performance across various critical parameters. From impressive growth in Net Interest Income to sturdy asset quality and an expanding network, the bank’s efforts are visibly paying off. Their focus on forward-looking initiatives reinforces their commitment to meeting the evolving needs of their customers, making them a formidable player in the Indian banking sector.

Download Personal Loan App

Get a loan instantly! Best Personal Loan App for your needs!!

Looking for an instant loan? Buddy Loan helps you get an instant loan from the best RBI-approved lenders. Download the Buddy Loan App from the Play Store or App Store and apply for a loan now!

buddyloan logo

Rated 4.5 on Google Play

Apply for Loan on BUDDYLOAN App

Interest rates starts @11.99% p.a. onwards

10mn+ App Installs

Having any queries? Do reach us at

Frequently Asked Questions

What is Net Interest Income (NII) in banking?

Net Interest Income (NII) is a key financial indicator for banks, representing the difference between interest earned from loans and investments and the interest paid on deposits and borrowings.

Why is a stable Net Interest Margin (NIM) important for banks?

A stable NIM indicates that a bank is effectively managing its interest rate risk and can maintain profitability.

What is the significance of Gross Non-Performing Assets (NPAs) and Net NPAs for a bank’s asset quality?

Gross NPAs represent the total non-performing assets, while Net NPAs deduct provisions made for bad loans. A low Net NPA indicates better asset quality and prudent risk management.

Why is a strong Capital Adequacy Ratio (CRAR) important for a bank?

A strong CRAR ensures that a bank has an adequate capital buffer to absorb losses and support its future growth.

What are some of the key initiatives launched by IndusInd Bank for its customers?

IndusInd Bank has launched the digital app “INDIE” and expanded services like affluent banking, NRI banking, and home loans to provide a comprehensive suite of services to its customers.