{"id":275834,"date":"2019-05-23T07:05:49","date_gmt":"2019-05-23T07:05:49","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=275834"},"modified":"2019-05-23T07:11:05","modified_gmt":"2019-05-23T07:11:05","slug":"indusind-bank-q4-profit-dips-62-ilfs-exposure-takes-toll","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indusind-bank-q4-profit-dips-62-ilfs-exposure-takes-toll\/","title":{"rendered":"IndusInd Bank Q4 profit dips 62%; IL&amp;FS exposure takes toll"},"content":{"rendered":"<p>IndusInd Bank on Wednesday reported 62 per cent fall in net profit at Rs 360 crore for the March quarter 2018-19 due to higher provisioning for loans extended to IL&amp;FS.<\/p>\n<p>Its profit in the year-ago period stood at Rs 953 crore.<\/p>\n<p>The private sector lender has a total exposure of Rs 3,004 crore to IL&amp;FS Group, of which Rs 2,000 crore is to the holding company and Rs 1,004 crore to operating companies\/ special purpose vehicles.<\/p>\n<p>The entire exposure to IL&amp;FS was classified as non performing asset (NPA) in the fourth quarter.<\/p>\n<p>\u201cWhile the bank witnessed robust growth in its topline as well as in operating profits, aggressive one time provisioning for IL&amp;FS depressed the bottom line,\u201d the bank\u2019s MD and CEO Romesh Sobti told reporters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IndusInd Bank on Wednesday reported 62 per cent fall in net profit at Rs 360 crore for the March quarter 2018-19 due to higher provisioning for loans extended to IL&amp;FS. Its profit in the year-ago period stood at Rs 953 crore. The private sector lender has a total exposure of Rs 3,004 crore to IL&amp;FS Group, of which Rs 2,000 crore is to the holding company and Rs 1,004 crore to operating companies\/ special purpose vehicles. The entire exposure to IL&amp;FS was classified as non performing asset (NPA) in the fourth quarter. \u201cWhile the bank witnessed robust growth in its [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,213,144],"tags":[],"class_list":["post-275834","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/275834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=275834"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/275834\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=275834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=275834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=275834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}