IndusInd Bank Q1 profit jumps 72 pc; aims for stronger profits as clean-up concludes

Private lender IndusInd Bank on Wednesday posted a 72 per cent jump in its consolidated profit after tax to Rs 1,037.05 crore for the June quarter, and guided towards a stronger profit show going ahead, saying its balance sheet has strengthened by actions of the past year.

The city-based lender had reported a net profit of Rs 604.07 crore in the year-ago period, and Rs 594.17 crore in the quarter-ago period.

"... the strategic actions undertaken over the past year have materially strengthened the quality of our balance sheet, earnings profile and operating platform. We are entering FY27 from a position of greater resilience, with stronger fundamentals and improving business momentum," its managing director and chief executive Rajiv Anand, who had to be brought in after the exit of Sumanth Kathpalia amid allegations of fraud and malfeasance against bank officials last year