IndusInd Bank shares declined 25.55% today, Tuesday (March 11). It fell Rs 196 and is trading at ₹670. This is the biggest decline in a single day since November 2020. The bank had said in an exchange filing on Monday (March 10) that an internal review had identified accounting discrepancies in the derivatives portfolio, i.e. a glitch in the accounts. The bank’s earnings may decline and net worth may decline by as much as 2.35%.
IndusInd Bank’s Financial Performance in Q3 FY2024-25
The country’s fifth-largest private sector lender Indsand Bank posted a net profit of Rs 1,402.33 crore in the third quarter of FY2024-25. On a salary basis, it has increased by 39%. In the same quarter a year ago, the bank posted a profit of Rs 2,301.49 crore.
In the October-December quarter, the bank clocked a net profit of Rs 15,155.80 crore. This was 8.50% higher than the previous year’s ₹13,968.17 crore. The bank said that the company’s profit has declined due to increase in expenses.
Stock Market Performance Today
The decline of up to 4% in the US markets is not affecting the Indian markets. The Sensex has fallen 35 points on Tuesday (March 11). These are trading at about 74,000. Nifty is flat, it is trading at the level of 22,460.
What Does This Mean for IndusInd Bank Investors?
With internal accounting issues and low profit increase, investors in IndusInd Bank should be cautious. The bank’s share price has seen a decline today, and there may be further instability in short -term. Investors should monitor the upcoming announcements and further explanations from the bank, which is about accounting discrepancies and their potential impact on earnings.
