IndusInd Bank Q3 results to be released today

NEW DELHI:

IndusInd Bank

, the private sector bank based in Mumbai is slated to announce its third-quarter results on Tuesday, January 14. In the previous quarter (Q2), the bank reported a 52.22 percent year-on-year (YOY) rise in consolidated net profit at Rs 1,400.96 crore.

For the third quarter, market analysts expect the bank to accomplish a 30 per cent rise in net interest income (NII). Also, a 50-60 per cent jump is expected in the year-on-year (YoY) rise in profit for Q3 but the numbers will not be compared on a YoY basis due to the bank's merger with Bharat Financial Inclusion that took effect in July last year.

The bank was quoting at Rs 1536.25 (NSE) and Rs 1536.00 (BSE) at 11:35 am on Tuesday, January 14.

Moreover, with an expectation of steady asset quality and low cost of funds, it would be interesting to see how

IndusInd

has earned in the third quarter of 2020.