IndusInd profit down 39% on microfin woes
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MUMBAI: IndusInd Bank reported a 39% drop in net profit to Rs 1,402 crore in the Dec quarter, down from Rs 2,301 crore a year ago. The decline was driven by an 85% surge in provisions and contingencies to Rs 1,744 crore, including Rs 695 crore for stressed microfinance loans.
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