Q2FY24 Preview IndusInd Bank: NII seen at Rs. 51,542 million, PAT at Rs. 22,342 million

17 Oct 2023 , 11:12 AM

Result date: October 18, 2023

Recommendation: Buy

Target price: Rs. 1,790

(Source: IIFL Research)

IndusInd Bank could post healthy growth in loans as well as deposits during the September 2023 quarter. The Bank’s Net Interest Income (NII) could grow 18.3% over the year-ago quarter.

Margins as well as asset quality are expected to remain stable during the quarter. Credit costs though could come down a bit amid healthy provision coverage ratio.

Profit After Tax (PAT) could grow 24.4% over the year-ago quarter.

Important management insights to watch out for:

• Trends in credit offtake across key segments and markets
• Outlook on margins, return ratios

Rs. Million	September 2023 estimates	YoY change	QoQ change
NII	51,542	18.3%	5.9%
PPOP	39,407	11.7%	3.0%
Profit After Tax (Rs. mn)	22,342	24.4%	5.1%

Source: Brokerage Reports