IndusInd Bank Ltd Q2FY18
Standalone Results Q2FY18: (Rs. in crore)
|Net Profit (adjusted)||880||25|
Indusind Bank reported its Q2FY18 results today. The Q2FY18 results were in line with street estimates as NII for the quarter was marginally down against street estimates of Rs.1848 crore. While net profit for the quarter also came in line with estimates of Rs.884 crore.
NII for the quarter rose 24.7% yoy to Rs.1820 crore in Q2FY18 vs Rs.1496 crore in previous year corresponding quarter. This was largely led by rise in interest income by 20.7% yoy to Rs.4208 crore.
GNPA's for the quarter rose 50% yoy to Rs.1345 crore in Q2FY18 vs Rs.899 crore in Q2FY17. In terms of percentage to total advances GNPA's for the quarter increased by 18 bps to 1.08% vs 0.9% in Q2FY17. Also, net NPA's for the quarter advanced marginally by 7 bps to 0.44% in Q2FY18 vs 0.37% in Q2FY!7.
Provisions for the quarter rose by 37.4% yoy to Rs.293.7 crore vs Rs.213 crore in previous year corresponding quarter. However, net profit for the quarter rose by 25% yoy to Rs.880 crore vs Rs.704 crore in previous year corresponding quarter.
Advances for the quarter also advanced 24% yoy to Rs.123180 crore, While deposits for the quarter rose by 26% yoy to Rs.141440 crore
IndusInd Bank Ltd is currently trading at Rs. 1,733.70, up by 16.35 points or 0.95% from its previous closing of Rs. 1,717.35 on the BSE.
The scrip opened at Rs. 1,731 and has touched a high and low of Rs. 1,741.80 and Rs. 1,700 respectively. So far 19,53,647(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
BSE 1,596.65 [31.45] ([1.93]%)
NSE 1,594.25 [28.45] ([1.75]%)
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