17 Jan 2024 , 09:44 AM
Result date: January 18, 2023
Recommendation: Buy
Target price: Rs. 1,770
(Source: IIFL Research)
Healthy loan growth is likely to aid IndusInd Bank’s performance for the December quarter. Deposits too are likely to maintain the growth momentum, with a slight moderation. The Bank’s Net Interest Income (NII) could grow 14.65% over the year-ago quarter.
Net Interest Margins (NIMs) are expected to remain stable. Slippages are likely to come lower sequentially as the September quarter numbers included slippage of a corporate borrower.
The Bank’s Profit After Tax or PAT could grow 14.15% as compared to the year-ago quarter.
Important management insights to watch out for:
Rs. Million |
December 2023 estimates |
QoQ change |
YoY change |
Net Interest Income |
51,539 |
1.50% |
14.65% |
Profit After Tax |
22,412 |
1.80% |
14.15% |
Source: Brokerage reports
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