IndusInd Bank Ltd on Wednesday said it posted a consolidated net loss of Rs 2,328.92 crore in the January-March 2025 quarter as against a profit of Rs 2,349.08 crore in the corresponding period last fiscal. The crisis-hit private lender earned an interest of Rs 10,633.84 crore in Q4 FY25, down 12.83 per cent compared to Rs 12,198.53 crore in the year-ago period.

The bank is facing major setbacks and is expected to take a Rs 1,960 crore hit due to an accounting discrepancy in its derivatives portfolio during fiscal 2025, in addition to a previously uncovered Rs 674 crore issue in its microfinance (MFI) segment.

Compounding the crisis is the bank’s leadership vacuum, following the abrupt resignations of CEO Sumant Kathpalia and deputy CEO Arun Khurana. In the absence of a formal leadership structure, the bank is currently being managed by a temporary executive committee.

“In conducting a review of microfinance portfolio for the period ended December 31, 2024, the IAD (Internal Audit Department) of the bank noted incorrect recording of cumulative interest income of Rs 673.82 crore and fee income of Rs 172.58 crore,” IndusInd Bank stated.

“Reversal of this incorrect recording (net of an interim provision of Rs 322.43 crore and actual interest income for this period of Rs l0l.4l crore, has resulted in an adverse impact of Rs 422.56 crore during the quarter ended on March 31, 2025,” it added.