IndusInd Bank Q2 PAT surges 73% yoy to Rs1,147cr; stock soars 4.5%

Balance Sheet footage as on September 30, 2021 was Rs3,80,495cr as against Rs3,31,996cr as of September 30, 2020, a growth of 15%.

Oct 28, 2021 02:10 IST India Infoline News Service

The Board of Directors of IndusInd Bank Limited approved the Bank’s results for the quarter ended September 30, 2021, at their meeting held in Mumbai on Wednesday, October 27, 2021.

Consolidated Net Profit for the quarter ended September 30, 2021 was Rs1,147cr as compared to Rs663cr during corresponding quarter of previous year up by 73% YoY.

The stock is among top gainer on the stock exchange in today’s trade. The stock is currently trading at Rs1,195.50 up by Rs53.65 or 4.7% from its previous closing of Rs1,141.85 on the BSE. The scrip opened at Rs1,169 and has touched a high and low of Rs1,241.85 and Rs1,169 respectively.

NIM at 4.07%, Net NPAs at 0.80%, Provision Coverage ratio at 72%, Capital adequacy ratio (CRAR) at 17.37% and Liquidity Coverage Ratio at 148% underscore the strength of operating performance, resilient liquidity buffers and adequacy of capital.

Pre Provision Operating Profit (PPOP) at Rs3,219cr for the quarter ended September 30, 2021 grew by 13% over the corresponding quarter of previous year at Rs2,852cr. PPOP/Advances ratio for the quarter ended September 30, 2021 steady at 5.97% compared to 6.02% a quarter ago.

Balance Sheet footage as on September 30, 2021 was Rs3,80,495cr as against Rs3,31,996cr as of September 30, 2020, a growth of 15%.

Deposits as on September 30, 2021 were Rs2,75,288cr as against Rs2,27,884cr, an increase of 21% over September 30, 2020. CASA deposits increased to Rs1,15,863cr with Current account deposits at Rs32,587cr and Saving account deposits at Rs83,276cr. CASA deposits comprised of 42% of total deposits as of September 30, 2021.

Advances as on September 30, 2021 were Rs2,20,808cr as against Rs2,01,247cr in September 30, 2020.

Net Interest Income for the quarter ended September 30, 2021 at Rs3,658cr, up by 12% from Rs3,278cr for the quarter ended September 30, 2020. Net Interest Margin for Q2 FY22 stood at 4.07% marginally lower than 4.16% for Q2 FY21 mainly due to surplus liquidity placed under repo with RBI.

Fee income at Rs1,838 crores for the quarter ended September 30, 2021 as against Rs1,554 crores for the corresponding quarter of previous year up by 18% YoY. Core Fee up by 42% to Rs1,506 crores as against Rs1,061 corresponding quarter of previous year.

Operating expenses for the quarter ended September 30, 2021 were Rs2,277cr as against Rs1,980cr for the quarter ended September 30, 2020.

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