IndusInd Bank Q2FY23 PAT up 57.43% at Rs1,805 crore on 33% fall in provisioning in the quarter

24 Oct 2022 , 07:04 PM

IndusInd Bank Ltd reported 12.93% growth in total revenues for the September 2022 quarter on consolidated basis at Rs10,719cr.

Revenue growth was 5.99% in sequential terms. The growth in the top line was largely driven by a sharp growth in revenues from corporate banking.

The revenues from treasury were lower on yoy basis while retail banking revenues were lower.

The bank holds contingency provisions of Rs2,653 crore as of September 2022. Capital adequacy ratio is comfortable in the quarter at 18.01%.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 57.43% at Rs1,805cr on the back of sharp fall in provisioning by nearly 33% on yoy basis.

Gross NPAs fell from 2.77% to 2.11% on a yoy basis while the net NPAs fell from 0.80% to 0.61% yoy. PAT margins were higher at 16.84% in the Sep-22 quarter compared to 12.08% in the Sep-21 quarter and compared to 16.13% in June 2022 quarter.

Corporate banking contributed most to operating profit growth, while retail and treasury saw fall in operating profits on yoy basis.

Financial highlights for Sep-22 compared yoy and sequentially

	IndusInd Bank
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 10,719.20	₹ 9,491.65	12.93%	₹ 10,113.29	5.99%
Net Profit (Rs cr)	₹ 1,805.28	₹ 1,146.73	57.43%	₹ 1,631.14	10.68%
Diluted EPS (Rs)	₹ 23.26	₹ 14.79		₹ 21.03
Net Margins	16.84%	12.08%		16.13%