IndusInd Bank shares plunge 17%; Mcap erodes by ₹15,572 crore amid disappointing earnings

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Shares of IndusInd Bank connected Friday (October 25, 2024) greeting tumbled astir 17% to deed the 52-week debased level aft the steadfast reported a 40% diminution successful nett net astatine ₹1,331 crore successful the 4th ended September 2024.

The banal dived 16% to deed the 52-week debased of ₹1,073 connected the BSE.

At the NSE, it plunged 16.72% to ₹1,066 - the 52-week debased level.

The company's marketplace valuation besides fell by ₹15,572.07 crore to ₹84,053.35 crore.

The banal emerged arsenic the biggest laggard among the Sensex and Nifty firms.

In the equity market, the BSE Sensex traded 388.99 points little astatine 79,676.17 and the Nifty dropped 163.60 points to 24,244.20.

The lender had earned a nett net of ₹2,202 crore successful the year-ago period.

Total income roseate to ₹14,871 crore successful the 4th nether review, from ₹13,530 crore successful the aforesaid play a twelvemonth ago, IndusInd Bank said successful a regulatory filing connected Thursday.

Asset prime of the slope deteriorated with gross non-performing assets (NPAs) rising to 2.11% of gross advances astatine the extremity of the September 4th of 2024, arsenic against 1.93% a twelvemonth ago.

Net NPAs oregon atrocious loans besides roseate to 0.64%, arsenic against 0.57% successful the year-ago period.

Published - October 25, 2024 11:51 americium IST

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