IndusInd Bank Q3 Profit Plunges 90% But Beats Estimates; Asset Quality Stable

• IndusInd Bank reported a 90% decline in Q3 profit to ₹128 crore, significantly better than the estimated ₹42 crore.
• Net Interest Income (NII) fell by 12.7% to ₹4,561.7 crore, exceeding the market estimate of ₹4,353 crore.
• Asset quality remained stable, with Gross NPA improving slightly to 3.56% and Net NPA at 1.04%.
• Provisions increased by 20.2% to ₹2,095.8 crore, impacting the bank's overall profit.
• Despite the profit decline, the bank's core operational performance remained strong.

Why It Matters: IndusInd Bank's Q3 profit dropped sharply but surpassed estimates, maintaining stable asset quality despite higher provisions.