India, Oct. 19 -- Private sector lender IndusInd Bank on Saturday reported a loss of '437 crore in the September quarter, as it chose to identify and provide for additional stress in the microfinance portfolio. The Hinduja group-promoted lender had reported a net profit of '1,331 crore in year-ago period and '604 crore in the preceding June quarter.

In March, it booked a loss of '2,329 crore amid a crisis over shoddy corporate governance, wrongful accounting practices and executive maleficence. Rajiv Anand, the newly-appointed chief executive and managing director of the lender, explained that it decided to go in for accelerated provisions and also did a '1,940-crore write-off in the MFI book during the quarter.

A senior official told r...