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IndusInd Q3 net slumps 91%
Business Standard
|January 24, 2026
Sunil Mehta to step down as chairman and director
Private sector lender Indus Ind Bank swung back to profit in the third quarter of 2025-26 (Q3FY26), but its net profit for the quarter slumped 91 per cent year-on-year (YoY) to ₹128 crore, hit by higher provisions and lower net interest and non-interest income.
The bank had posted a ₹437 crore loss in Q2FY26.
Separately, the bank said Sunil Mehta will cease to be its part-time chairman and director upon completion of his tenure on January 30 as he did not seek to continue beyond his current term. Subsequently, the bank has appointed Arijit Basu to the position, effective January 31, following approval from the Reserve Bank of India (RBI).
Basu, who was serving as chairman and non-executive independent director at HDB Financial Services, resigned from that role on Friday with immediate effect.
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