Private lender IndusInd Bank has reported its earning numbers. According to the report, IndusInd Bank's September quarter net profit halved to Rs. 663 crore and the private sector lender hinted of more pain in the offing saying provisions may go up in the future. The bank's newly appointed chief executive Sumant Kathpalia on Friday said it has been focusing on balance sheet re-alignment till now to make the book more resilient but will start focusing on the growth opportunities from here on. He also outrightly denied reports of the bank or its promoters,  the Hindujas, exploring a merger opportunity with larger rival Kotak Mahindra Bank.

On a consolidated basis, the lender's net profit declined to Rs. 663.08 crore in the latest September quarter from Rs. 1,400.96 crore in the same period a year ago. For the reporting quarter, its core net interest income grew 13 percent to Rs. 3,278 crore on the back of a 0.06 percent expansion in Net Interest Margin (NIM) to 4.16 percent and a 2 percent loan growth. NIM, however, declined by 0.12 percent when compared with the preceding quarter. Other income declined to Rs. 1,554 crore in the latest September quarter from the year-ago period's Rs. 1,727 crore, but was up when compared with the June quarter's Rs. 1,520 crore.

On Friday, shares of IndusInd Bank closed at Rs.585.20, down by Rs.3.50 from its previous closing price on the National Stock Exchange (NSE).

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