Following a significant decrease in IndusInd Bank shares on Tuesday, CEO Sumant Kathpalia said that the bank is expected to offset the losses within the current quarter. “The full year won’t be a loss at all. And I think Q4 will also be in profit,” he told CNBC-TV18 on Tuesday.
On Tuesday, March 11, shares of IndusInd Bank Ltd., experienced a significant drop of 27%. The stock hit a 52-week low of Rs 655.00 due to the bank’s announcement regarding accounting problems linked to its derivatives.
IndusInd Bank has projected a Rs 1,530 crore negative impact as a result of discrepancies in its derivative portfolio. Following an internal assessment of processes pertaining to certain segments of its derivative portfolio, the bank anticipates a 2.35% adverse effect on its net worth. This review was initiated in compliance with the RBI’s directives on lenders’ investment portfolios, released in September 2023, which specifically addressed the ‘Other Asset and Other Liability’ accounts within the portfolio. The bank has identified discrepancies in the balances of these accounts.
Content retrieved from: https://www.businesstoday.in/markets/company-stock/story/indusind-bank-stock-indusind-bank-will-see-profit-in-q4-fy25-ceo-sumant-kathpalia-after-losing-27-in-one-day-467590-2025-03-11.
