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Shares of the private sector lender IndusInd Bank shares are in focus in Monday’s session (March 24, 2025) after the bank appointed a professional firm to carry out comprehensive assessment. At the last count, shares of the lender traded with a cut of 1.55 per cent at Rs 675.15 apiece.
In the last seven days, the stock has largely traded rangebound, while in a month’s time it has fallen over 34 per cent.
As per the filing with the exchanges, the professional firm will be engaging in “identify the root cause of the discrepancies, assess the correctness and impact of the accounting treatment of the derivative contracts with regard to the prevailing accounting standards/ Guidance, identify any lapses and establish accountability in relation to the above.”
Earlier, in the month, the bank made disclosures concerning some of the discrepancies pertaining to the account balances relating to its derivative portfolio. The discrepancies observed were a part of the ongoing review by an external agency.
On 10th March 2025, the Bank had disclosed the ongoing review by an external agency, of certain discrepancies identified by the Bank, in its account balances relating to its derivative portfolio and that, once completed, the Bank will appropriately reflect any resultant impact in its financial statements, added the filing with the exchanges.
IndusInd Bank Q3FY25
The lender’s net profit declined over 39 per cent in the quarter-ended December. Net profit of IndusInd Bank declined 39.07 per cent to Rs 1402.33 crore in the quarter ended December 2024 as against Rs 2301.49 crore during the previous quarter ended December 2023.
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