IndusInd Bank reported a net loss of ₹2,236 crore on a standalone basis and ₹2,329 crore on a consolidated basis for Q4FY25, reversing from profits in the same quarter last year.
| Photo Credit:
Bijoy Ghosh
Chickens came home to roost for IndusInd Bank (IIB) as major accounting discrepancies dragged the lender into the red in the fourth quarter (Q4FY25), both on a standalone and consolidated basis.
India’s fifth largest bank reported a net loss of ₹2,236 crore on a standalone basis in the reporting quarter against a net profit of ₹2,347 crore in the year-ago period.
On a consolidated basis, IIB reported a net loss of ₹2,329 crore in the reporting quarter, compared to a net profit of ₹2,349 crore in the year-ago period.
The bottomline took a knock as provisions & contingencues shot up 165 per cent year-on-year (yoy) to ₹2,522 crore (₹950 crore) in the backdrop of the accounting related discrepancies.
The bank received a tax write-back of ₹684 crore (against tax expense of Rs 782 crore).
Auditors flagged accounting discrepancies, such as Internal Trades Derivative Accounting under the head “Other Assets’ amounting to ₹1,959.98 crores, which were accumulated notional profits since FY2015-16 and written off as a prior period item in the current financial year.
Further, incorrect accounting and subsequent reversal of cumulative interest income of ₹673.82 crore and fee income of ₹172.58 crore within the current financial year.
Moreover, certain incorrect Manual Entries posted in the “Other Assets” and “Other Liabitities” pertaining to prior years, amounting to ₹595 crore, have been set off during the current financial year.
Published on May 21, 2025