The bank decided to set aside an additional ₹525 crore as prudential provisions due to challenges in the operating environment.The bank's interest income fell because of higher slippage and a dip in income due to microlending portfolio de-growth, which impacted the profits.Chief executive and managing director Sumant Kathpalia sought to assuage any concerns and said the management is confident about the overall trajectory of the business not getting derailed, even though business performance has trailed targets for the two consecutive quarters.The core net interest income grew only at 5% year-on-year to ₹5,347 crore on a 13% loan growth and a 0.21% contraction in the net interest margin at 4.08%.Kathpalia admitted that the loan growth is much below the 18-20% target set by the bank for itself as part of a medium-term plan, and added that margins will come back to normal levels of over 4.2% by end of the fiscal.

IndusInd Bank profit falls 40% on asset quality woes

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.